GAIN Capital, a provider of online trading services, has signed a non-binding letter of intent to acquire the client base of FXCM's US operations.
Under the letter of intent, customers of FXCM's US regulated business will be transferred to GAIN's retail brand FOREX.com.
The transaction is subject to GAIN and FXCM reaching a definitive agreement and to final regulatory approval. Upon reaching an agreement, the account transfer is expected to occur prior to the end of February.
GAIN Capital is one of the largest providers of retail FX & CFD trading services globally. The company is currently regulated in eight jurisdictions, with approximately 140,000 customers and over USD1.5 billion in assets. In addition to its US regulated retail forex business, GAIN operates regulated retail trading operations in the UK, Japan, Hong Kong, Australia, Singapore, Grand Cayman and Canada, conducting its retail trading business globally under its FOREX.com and City Index brands.
In addition to its retail trading business, GAIN operates a broadly diversified business, which includes a US-based retail futures business and an international institutional trading business, GTX.
