GAIN Capital Holdings Inc., engaged in online foreign exchange (forex) trading, launches FOREX.com, its online currency trading service, in the UK and Europe.
FOREX.coms user-friendly service enables customers to trade the worlds major currencies, including the British Pound, Euro and U.S. Dollar, as well as gold and silver, 24 hours a day, five days a week.
Forex is the traded market with a daily volume that exceeds USD3.2 trillion, according to the Bank for International Settlements (BIS). Forex is growing trading area among retail investors, according to Aite Group. By the end of 2007, average daily trade volume in the retail forex market reached USD77 billion, an increase of 670% over 2001. Aite Group estimates retail forex daily trading volume will reach USD110 billion by 2009.
Forex is a traders market, and retail investors around the world are increasingly aware of all this market has to offer, says Glenn Stevens, CEO, GAIN Capital. FOREX.com has established a strong leadership position in the United States and we believe our service will be well-received by traders in the UK and European markets looking for a well-capitalized firm that offers premium trading tools and research, competitive pricing and, of course, a solid reputation.
As a result of the financial crisis, retail investors have lost faith in the stock markets and are unhappy with low interest rates on savings, says Matthew Wright, regional director, FOREX.com UK. In lieu of traditional investments, research shows retail investors are increasingly looking at alternative asset classes such as forex as an opportunity to generate positive returns.
L.D.