BURLINGAME, CA & NEW YORK - April 1, 2009
Zecco Holdings, Inc. (www.zecco.com), an online investing site widely known for providing free stock trading through its subsidiary Zecco Trading*, and GAIN Capital, a global provider of online foreign exchange (forex) services, today announced the launch of Zecco Forex, a new online foreign exchange trading service for individual traders.
The collaboration between Zecco Forex, Inc. (www.zecco.com/forex), and GAIN Capital brings together Zecco's strong and growing presence in the online brokerage world with GAIN Capital's proven forex trading technology, execution, clearing and custody services.
Forex, the most traded market in the world, has a daily volume that exceeds $3.2 trillion, according to the Bank for International Settlements (BIS). Forex trading has rapidly gained acceptance among retail investors over the past several years. According to U.S. research firm Aite Group, average daily trade volume in the retail forex market alone increased 500 percent from 2001 to 2006, reaching an estimated $77 billion per day in 2007. Aite Group estimates retail forex daily trading volume will reach $110 billion by end of 20091.
"Today's volatile forex markets have created an attractive and complementary opportunity for our investors," said Jeroen Veth, CEO of Zecco Holdings, Inc. "They are already actively trading the equity and options markets using both directional and neutral market strategies. Zecco Forex provides them access to another asset class where they can make trades independent of overall equity market direction."
"The forex market is a trader's market, open 24 hours a day, five days a week," said Glenn Stevens, CEO of GAIN Capital. "The opportunity to reach a wider audience with our comprehensive forex solutions in conjunction with Zecco, a pioneer in online investing, helps us continue to build awareness of the exciting and growing retail forex market."
Zecco Forex customers have access to an award-winning trading application, streaming real-time data and charts, powerful technical indicators, and daily research updates. They can trade 37 currency pairs commission free with some of the tightest spreads in the business and up to 200:1 leverage2. They also have access to an active financial community where they can discuss forex trading strategies. Traders can test drive the Zecco Forex service by registering for a free 30-day practice account at www.zecco.com/forex.
1 Source: Aite Group, Retail FX: Taking Center in Overall Market Growth, 7/16/2007
2 Zecco Forex and GAIN Capital are compensated through the bid/ask spread. Forex trading involves significant risk of loss and is not suitable for all investors. Higher leverage magnifies gains and losses.
About Zecco Trading, Inc.
Headquartered in Burlingame, Calif., Zecco Holdings, Inc. (http://www.zecco.com) offers users a financial social networking community, and access to free stock trading through its wholly owned subsidiary, Zecco Trading, Inc. This revolutionary pricing and innovative financial community where great investing ideas can be freely shared, debated and tested, provides a refreshing alternative to traditional brokers like E*TRADE, Charles Schwab, and TDAmeritrade. Notable backers of Zecco Holdings include Velocity Capital and Boekhoorn M&A.
Zecco Holdings, Inc./Zecco.com is not a securities broker/dealer or a futures commission merchant (FCM).
* All securities and investments are offered through Zecco Trading, Inc., member FINRA / SIPC. Zecco Trading accounts receive 10 free equity trades per month when they maintain a minimum net equity of $25,000 or execute 25 total trades, $4.50 per trade otherwise.
All forex products are offered through Zecco Forex, Inc., which acts as an introducing broker to GAIN Capital. Accounts are held and maintained with GAIN Capital which serves as the clearing agent and counterparty to trades. GAIN Capital Group, LLC is a registered Futures Commission Merchant (FCM) and a member of the National Futures Association (NFA # ID# 0339826).
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 in excess of $200 billion per month with its customers and trading partners.*
GAIN Capital provides execution, clearing, custody, and technology products and services, supporting over 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.
With offices in New York City; Bedminster, New Jersey; and London; GAIN Capital and its affiliates are regulated by the Commodity Futures Trading Commission (CFTC) in the U.S. and the Financial Services Authority (FSA) in the United Kingdom. For company information, visit www.gaincapital.com, or for trading information, visit www.forex.com.
*Includes customer trades, rollovers, and counterparty transactions.