TORONTO and NEW YORK, July 26, 2012 /PRNewswire/ -- FOREX.com, the online retail trading division of GAIN Capital Holdings, Inc. (GCAP), today announced the launch of a new service in Canada. FOREX.com Canada (www.forex.com/ca) allows Canadian residents to trade over 70 products, including 50 currencies and a variety of commodity markets, including energy, precious metals, and agricultural commodities. Clients also have access to 10 of the most widely traded equity indices including FTSE (UK), DOW and S&P500 (US), Nikkei (Japan), and Hang Seng (Hong Kong).
"We are pleased to bring our award-winning FOREX.com service to Canada," said Glenn Stevens, CEO GAIN Capital. "Over the past several years, we've seen growing interest from traders in Canada in global markets such as currencies and commodities. As a result, we sought and received regulatory approval in Canada. We believe that traders will be very receptive to our premium service, which includes the advanced tools and research you expect from an industry leader, along with the competitive spreads and high quality trade executions for which FOREX.com is known."
Other highlights of FOREX.com's service include:
- Access to the popular Metatrader 4 platform, with robust mobile trading capabilities for iPhone and Android devices.
- Real time forex news from Dow Jones along with expert research and trading ideas, integrated directly into the trading platform.
- Free educational resources including online guides, courses, webinars and more.
- 24-hour customer service during market hours by phone, email or chat.
- Local account services, including Canadian dollar (CAD) and US dollar (USD) funding and denominated trading accounts.
- Client deposits are insured up to CAD $1 million through the Canadian Investor Protection Fund (CIPF).
- A Negative Balance Protection policy which protects clients from losing more money than they have on deposit due to trading losses. This policy protects clients up to 50,000 of the base currency of their account.
In Canada, FOREX.com is regulated by the Investment Industry Regulatory Organization of Canada, or IIROC, and is a member of Canadian Investor Protection Fund (CIPF). FOREX.com is the trading name of GAIN Capital – FOREX.com Canada Ltd., one of only a few registered Investment Dealers approved to offer Contracts for Difference (CFDs) and OTC forex to retail clients in the Canadian market.
Traders should visit www.forex.com/ca for more information, or to register for a free 30-day demo account.
About GAIN Capital
GAIN Capital Holdings, Inc. (NYSE: GCAP) is a global provider of online trading services. GAIN's innovative trading technology provides market access and highly automated trade execution services across multiple asset classes, including foreign exchange (forex or FX), contracts for difference (CFDs) and exchange-based products, to a diverse client base of retail and institutional investors.
A pioneer in online forex trading, GAIN Capital operates FOREX.com®, one of the largest and best-known brands in the retail forex industry. GAIN's other businesses include GAIN GTX, a fully independent FX ECN for hedge funds and institutions, and GAIN Securities, Inc. (member FINRA/SIPC) a licensed U.S. broker-dealer.
GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Beijing; Hong Kong; Tokyo; Singapore; and Seoul.
For company information, visit www.gaincapital.com.
FOREX-Euro surges against dollar on Draghi pledge - Reuters UK
* Euro rises 1 pct against dollar, yen
* ECB head says will do whatever needed to save euro
* Dollar also down 1 pct vs Swiss franc, Aussie dollar
* Analysts say gains may be shortlived
LONDON, July 26 (Reuters) - The euro jumped against the dollar on Thursday, reversing earlier losses, after European Central Bank chief Mario Draghi said the bank would do whatever it takes to preserve the single currency.
The euro rose 1 percent to a one-week high of $1.2288, taking it well above a low of $1.21178 touched earlier in the session.
Speaking at a conference in London, Draghi pledged to do whatever necessary to protect the euro zone from collapse, including fighting unreasonably high government borrowing costs for countries such as Spain and Italy.
But analysts were sceptical the euro's gains would be sustained given worries about the possibility of Spain applying for a sovereign bailout or Greece leaving the monetary union.
"There is some market optimism on the comments but I didn't see any hard news in them, so we've seen a technical reaction in a thin market and, like yesterday, that's triggered more short (covering)," said Peter Wuyts, a market analyst at KBC, referring to investors unwinding bets against the euro.
On Wednesday, the euro recovered from a two-year low of $1.2042 after Austria's European Central Bank Governing Council member Ewald Nowotny discussed the merits of giving the euro zone bailout fund a banking licence.
Better investor appetite to take on risk dented the safe-haven U.S. dollar, which fell 0.7 percent against a basket of currencies to 82.91.
It lost nearly 1 percent against the Swiss franc and against the higher-yielding Australian and New Zealand dollars.
The euro also gained more than 1 percent against the Japanese yen to 96.121 yen after Draghi's speech.
But analysts said there was little new or of substance in recent comments by policymakers and they expected traders to sell into any rally.
They said the past two days' gains may have been overdone and the euro could re-test recent lows and target the psychological $1.20 level followed by 2010's low around $1.1875.
"The only thing that could change the downtrend in the euro is if the Fed launched further quantitative easing or some other additional policy measures. Otherwise it's all about what happens in the euro zone," said Richard Falkenhall, currency strategist at SEB in Stockholm.
Any hints at further quantitative easing at a U.S. Federal Reserve policy meeting next week could bolster the euro, as asset buying by the central bank would increase the supply of dollars in the market and weigh on the greenback.
Speculation the Fed may adopt monetary easing steps could grow louder if U.S. second-quarter gross domestic product data due on Friday is weak, although most expect the central bank to hold back for now. (Additional reporting by Jessica Mortimer, editing by Nigel Stephenson)
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