GAIN Capital Holdings, Inc., a global provider of online trading services, today announced that it has launched a new Arabic service under its FOREX.com UK division.
Gain Capital, one of world’s largest brokers, is lately focused on appealing to the international audience. Three months ago it launched a multilingual version of its forex.com website and now it completely translated its platform and service into Arabic. Middle Eastern audience is for a while now considered as one of the main drivers behind this industry’s growth. All large brokers are reporting double digits growth in their Middle Eastern client numbers and volumes. AC Markets, Saxo Bank and Deutsche Bank were the latest to report that. I wrote about Dubai’s importance (as a Forex hub) almost a year ago and since many major brokers like FXCM, Saxo and Oanda have established local presence. I assume that Gain will soon follow with a local office of its own.
The new service will offer FOREX.com’s award-winning trading platform and services to clients across the Middle East region. The FOREX.com offering supports margin-based trading in FX and Contracts for Difference (CFDs), and is regulated by the FSA through FOREX.com UK.
Investors in the region will be able to trade in oil, gold, silver and the world’s major currencies including the U.S. Dollar, Euro and British Pound, 24 hours a day, five days a week. FOREX.com also offers access to the firm’s unique research resources, including daily market commentary and analysis from a global team of economists and technical analysts.
The retail foreign exchange market is experiencing tremendous growth worldwide. In the Middle East, it is a relatively new phenomenon for retail traders but demand is soaring as the appeal of this market is increasingly recognised. In the first quarter of 2010, trade volumes in currency, gold and crude oil futures grew by over 120% according to recent reports.*
Glenn Stevens, chief executive officer of GAIN Capital commented: “As we continue to expand globally we are delighted to launch our new local offering in the Middle East. The impressive growth of retail currency, gold and oil products in the region in recent years has driven our decision to enhance our offering for Arabic speakers. Traders in the Middle East will now have access to our award-winning trading platform and expert research as well as personal support around the clock.”
As part of the service offering, FOREX.com provides a wealth of free educational resources including online guides and courses, and access to dedicated support from forex experts seven days a week. The comprehensive service has the additional benefit of offering clients segregated funds protection offered by an FSA-regulated business.
To support the new service launch, FOREX.com is attending a number of conferences in the region. On 3 and 4 May 2010 it is attending the Jordan Expo, and on 21 and 22 May the team then moves on to the Lebanon Show which is one of the biggest FX trade shows in the region. At both conferences FOREX.com will showcase its new service offering and platform.
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For more information, traders should visit www.forex.com/uk/ar.
*Dubai Gold and Commodities Exchange (DGCX) – Q1 2010
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; Seoul; Tokyo; and Hong Kong, 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, and the Securities and Futures Commission (SFC) in Hong Kong.
GAIN’s investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.