GAIN Capital (NYSE: GCAP) is gearing up to fight for a higher market share of the top FX traders segment. The operator of FOREX.com today announced a new type of premium account, which provides high volume FX traders with preferred pricing, additional volume tiered incentives and other value-added services. Similar to other firms, the brokerage calls the new offering Active Trader.
“We recognize the unique needs of high volume FX traders and challenged ourselves to develop a service that offered a rewarding trading experience,” said Samantha Roady, President of Retail at GAIN Capital. “The Active Trader account delivers that through value pricing, unique trader services and high touch, personalized support.”
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Describing the new offering, the brokerage explains that customers who open an Active Trader account receive automatic discounts on GAIN Capital’s standard spreads with an opportunity to receive additional spread discounts of up to 50% based on monthly volume. Active Trader accounts also receive dedicated support and account management, priority handling of all service request and no account fees.
The Active Trader account is now available to clients in the U.S. and Canada with a minimum balance of $20,000 and the brokerage says it will be rolled out to customers globally over the coming months.
Earlier this month GAIN Capital posted its third quarter results and announced a $30 million buyback program coupled with a 20% increase in dividends to 6 cents. The changes were aimed at reassuring investors of the long term value of holding the company’s shares.