NEW YORK, LONDON and SYDNEY, April 28 /PRNewswire/ -- GAIN Capital Holdings, Inc., a global provider of online trading services specializing in foreign exchange (forex or FX) and contracts for difference (CFDs), today announced the launch of a new service in Australia under its FOREX.com brand.
The new Australian Securities and Investments Commission (ASIC) regulated offering makes FOREX.com's award winning trading platform and services available to clients in Australia, New Zealand and the wider Asia Pacific region. FOREX.com has opened an office in Sydney to provide local customer support and service.
Glenn Stevens, chief executive officer of GAIN Capital commented: "Launching operations in Australia is part of a long term strategic goal to service our clients locally wherever possible. GAIN Capital has a growing global footprint and we believe our FOREX.com service will be well-received by traders in Australia and New Zealand who are looking for a well-capitalized firm that offers premium trading tools and research, competitive pricing and, of course, a solid reputation."
The retail forex market has experienced impressive growth in the region in recent years. According to independent research firm Investment Trends, FX trading now accounts for up to 25% of trade volume amongst some providers in the Australian CFD market – a market that has until recently been dominated by equity trading*. GAIN Capital expects this growth to continue as traders look for markets that offer the potential for returns whatever the economic conditions.
Investors in the region will be able to trade in the world's major currencies including the Australian Dollar, New Zealand Dollar, U.S. Dollar, Euro and British Pound, as well as gold, silver and oil CFD contracts.
Customers will also enjoy access to the company's full suite of trading tools and services, including:
- Real time forex news from Dow Jones.
- Expert research and trading ideas from a global research team of technical and fundamental analysts.
- Free educational resources including online guides, courses, webinars and more.
- Local funding options and account services such as Australian dollar (AUD) and New Zealand dollar (NZD) denominated trading accounts.
Mike Bermingham, Regional Director of FOREX.com Australia added: "With the opening of our office in Sydney we look forward to providing on-the-ground support to our clients in the region."
With offices in the U.S., U.K., Hong Kong, Japan, and Korea, the launch of operations in Australia extends the company's global footprint to six countries. More offices locations are expected to open later this year.
For more information, traders should visit www.forex.com/au
* According to independent research firm Investment Trends, geared trading instruments are a rapid growth area in Australia(1), and FX trading makes up around a quarter of the volume of trading through several of the local Contracts for Difference (CFD) providers(2).
(1) Investment Trends Dec 2009 Alternative Investments: Investor Report
(2) Investment Trends June 2009 CFD Report
About GAIN Capital
GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). Customers and trading partners in more than 140 countries have utilized the company's award-winning trading platform which transacts nearly $200 billion per month.
A pioneer in online forex trading, GAIN Capital provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms. GAIN also operates FOREX.com, one of the largest and best-known brands in the retail forex industry.
With offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo and Seoul. GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the United States, the Financial Services Authority (FSA) in the United Kingdom, the Financial Services Authority (FSA) in Japan, the Securities and Futures Commission (SFC) in Hong Kong, and the Australian Securities and Investments Commission (ASIC) in Australia.
GAIN's investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.
For company information, visit www.gaincapital.com or www.forex.com.
SOURCE GAIN Capital Holdings Inc.