NEW YORK and LONDON, August 26, 2009
GAIN Capital, a global provider of online trading services, today announced that its FOREX.com UK division has added Brent crude oil to its award-winning FOREXTrader platform, enabling clients to trade oil alongside global currencies and spot metals.
"Economic fundamentals have become a significant driver of oil prices. This factor and the inverse relationship between oil and the US dollar means trading oil is a fairly natural extension and an interesting alternative to currency trading." comments Jane Foley, Director of Research for FOREX.com.
"In addition, many currency traders already closely follow the price of oil, and commodities are increasingly popular with retail traders as they look for opportunities to generate positive returns outside traditional equity markets." adds Matthew Wright, Regional Director for FOREX.com in Europe.
FOREX.com offers Brent crude oil (BCO) as a Contract for Difference (CFD) with five percent margin and the flexibility to trade small contracts from just one lot, representing 100 barrels. The FOREX.com BCO contract tracks the current price of Brent crude on the Intercontinental Exchange (ICE). In addition to premium trading tools such as real-time charts and news, clients will also receive daily market commentary and analysis from the FOREX.com research team on the latest market trends impacting the price of oil.
Glenn Stevens, CEO, GAIN Capital, concludes "Having launched gold and silver contracts on our FOREXTrader platform earlier this year, oil is the next logical step in our product expansion. We will continue to add new products to all of our platforms to help our clients take advantage of global trading opportunities."
Prospective traders can register online at www.forex.com/uk to learn more and to register for a free practice account to test oil trading strategies in a risk-free environment.
About GAIN Capital
GAIN Capital is a market leader in the rapidly growing online foreign exchange (forex or FX) industry. Founded in 1999 by Wall Street veterans, GAIN now services clients from more than 140 countries and supports average trade volume of nearly $200 billion per month with its customers and trading partners.*
GAIN Capital provides execution, clearing, custody, and technology products and services, supporting more than 50 correspondent and white label arrangements with broker/dealers, Futures Commission Merchants (FCMs) and other financial services firms around the globe. The company also operates FOREX.com (www.forex.com), one of the largest, best-known brands in the retail forex industry. GAIN's investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.
With offices in New York City, Bedminster, New Jersey, London, Seoul and Tokyo, GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the U.S., the Financial Services Authority (FSA) in the United Kingdom, and the Financial Services Authority (FSA) in Japan. For company information, visit www.gaincapital.com, or for trading information, visit www.forex.com.
*Includes customer trades, rollovers, and counterparty transactions.