It’s interesting to see that while all major American brokers have marked UK in Europe just for their European regulated subsidiaries but focus on Asia as their target market with highest growth potential, Gain Capital is actually expanding in Germany. It’s also interesting to note that Gain rationalizes this move by citing high growth in trading from its German clients and by dBFX’s acquisition. This may mean that dbFX’s clients base consisted of large number of German clients thus leading Gain to improve its local support and realizing how attractive this market is. It wouldn’t be surprising to see Gain launching a local office in Germany soon.
German market is indeed considered a very large and stable one for forex brokers. FXCM, Saxo Bank, markets.com (through former Finexo) Ava FX and several others maintain strong presence in the country while many smaller brokers just market there using online resources. VarengoldFX is one of the few local forex brokers active in the country.
According to a research performed by Forex Magnates we estimated the German market to be at $80 billion monthly volume with about 45,000 active clients and over $10,000 in average deposit.
NEW YORK and LONDON, Jan. 26, 2012 /PRNewswire/ — FOREX.com, the online retail trading division of GAIN Capital Holdings, Inc. (NYSE: GCAP), has launched a new service providing German investors access to more than 70 markets including FX, indices and commodities. The move is part of GAIN Capital’s ongoing European expansion, having established FOREX.com in the UK in 2009 and following last year’s acquisition of Deutsche Bank’s retail trading business- dbFX.
Glenn Stevens, CEO, GAIN Capital, commented, “FX trading is growing rapidly in Germany: last year alone it increased by an estimated 30% and as a result we saw significant demand for a fully localized German FOREX.com service. We are confident that this trend will continue into 2012 and beyond, and that we can gain significant market share to become a leader in German online trading in the coming years.”
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According to the Bank of International Settlements Triennial Central Bank Survey, the global foreign exchange market reached $4.0 trillion in average daily turnover in 2010, 20% higher than in 2007. “Retail investors are increasingly aware of the importance foreign currencies play in global economics and the impact currency values have on other forms of investment. With the euro facing a crucial test as the national debt crisis continues to gather pace it is a really interesting time for retail investors to add foreign exchange to their investment portfolio,” said Kathleen Brooks, director of research at FOREX.com.
Clients can access the trading platform as a download, through web and mobile browsers, and through native apps for iPhone, iPad and Android – giving them the ability to manage their accounts and access real time charts and news on the move. Every client benefits from FOREX.com’s commitment to complete price transparency and quality trade execution, supported 24 hours a day, six days a week. A German speaking support team is also available.
FOREX.com also offers the popular MetaTrader platform through its new German service, for traders who want to run automated strategies against the robust and competitive pricing of a market leader.
Traders should visit www.forex.com/de for more information, or to register for a free demo account.