Steph Johnson / Christa Conte
1.212.808.4904 / 212.808.4902
[email protected] / [email protected]
For Immediate Release
GAIN Capital's FOREX.com Launches Gold Trading
24-hour spot gold trading added to online trading platform in response to strong investor demand
NEW YORK, February 26, 2009 – GAIN Capital, a global provider of online foreign exchange (forex) services, today announced that its FOREX.com division is now offering spot gold trading.
“The current economic climate is generating a lot of market interest in gold,” said Tim O’Sullivan, chief dealer at GAIN Capital. “Short term traders are taking advantage of the daily volatility and longer term investors are buying gold as a store of value in these troubled economic times and as a hedge against inflation expectations.”
Gold climbed to an 11-month high of $1006.29/oz on February 20 before retreating back to $951.75/oz on February 25. Traders are now bracing for a continued technical showdown around the key $1000/oz level.
“Spot gold is a natural product extension to our core forex offering,” added Glenn Stevens, GAIN’s Chief Executive Officer. “Three of gold’s most powerful drivers are market factors that forex traders already follow closely: the strength of the U.S. dollar, the price of oil, and inflation expectations.”
Benefits of spot gold trading at FOREX.com:
• Commission-free trading (pay only the bid/offer spread)
• 24-hour trading from Sunday 6 p.m. ET – Friday 5 p.m. ET
• Low 2% margin requirement
• Competitive dealing spreads, as low as .50 points
• Small contract sizes available (1 contract = 10oz)
For more information and to register for a free practice account, visit FOREX.com.
About GAIN Capital
GAIN Capital is a market leader in the rapidly growing online foreign exchange (forex or FX) industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume in excess of $200 billion per month.
The company operates FOREX.com (www.forex.com) one of the largest, best-known brands in the retail forex industry. FOREX.com services individual investors of all experience levels with a full-service trading platform, advanced tools and research, and extensive education and training. In addition, GAIN Capital provides execution, clearing, custody, and technology products and services, supporting over 50 correspondent and white label arrangements with broker/dealers, Futures Commission Merchants (FCMs) and other financial services firms around the globe.
With offices in New York City, Bedminster, New Jersey and London, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the US and the Financial Services Authority (FSA) in the United Kingdom. Spot Gold contracts are not subject to regulation under the U.S. Commodity Exchange Act.
Forex trading carries a high level of risk, and may not be suitable for all investors. Higher leverage magnifies both gains and losses.
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