Gain Capital, a provider of online trading services, has launched an Arabic service under its Forex.com UK division.
The new service will offer Forex.com’s trading platform and services to clients across the Middle East region.
The Forex.com offering supports margin-based trading in FX and contracts for difference, and is regulated by the Financial Services Authority through Forex.com UK.
Investors in the region will be able to trade in oil, gold, silver and the world’s major currencies including the US dollar, Euro and British Pound, 24 hours a day, five days a week.
Forex.com also offers access to the firm’s research resources, including daily market commentary and analysis from a team of economists and technical analysts.
Gain Capital says the retail foreign exchange market is experiencing tremendous growth worldwide. In the Middle East it is a relatively new phenomenon for retail traders, but demand is soaring. In the first quarter of 2010, trade volumes in currency, gold and crude oil futures grew by over 120 per cent according to recent reports.
Glenn Stevens (pictured), chief executive officer of Gain Capital, says: "As we continue to expand globally we are delighted to launch our new local offering in the Middle East. The impressive growth of retail currency, gold and oil products in the region in recent years has driven our decision to enhance our offering for Arabic speakers. Traders in the Middle East will now have access to our award-winning trading platform and expert research as well as personal support around the clock."
As part of the service offering, Forex.com provides free educational resources including online guides and courses, and access to dedicated support from forex experts seven days a week. The service has the additional benefit of offering clients segregated funds protection offered by an FSA-regulated business.
