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FOREX.com Expands U.S. Presence to Accommodate Growth in Retail Forex Trading
Division of GAIN Capital Group Opens New York Office at 44 Wall Street
Bedminster, New Jersey - March 6, 2006 - GAIN Capital Group, a leading non-bank provider of foreign exchange (FOREX) trading and asset management services, today announced the opening of a new 44 Wall Street location in downtown Manhattan. The new office serves as the U.S. sales headquarters for FOREX.com, the retail division of GAIN Capital Group, Inc. The firm's corporate headquarters are located in Bedminster, New Jersey.
"FOREX.com is the fastest growing part of our business, with the division contributing 60% of new accounts in the fourth quarter of 2005" said Mark Galant, CEO of GAIN Capital." For the month of January 2006, new accounts at FOREX.com were almost 2 1/2 times the number of new accounts opened 12 months earlier, in January 2005.
Currently staffed with a team of 16, GAIN is actively recruiting in the areas of sales and support and expects to double the existing team by mid year.
"With the explosive growth we're experiencing on the retail side, the expansion to 44 Wall Street is a natural progression for the firm," commented Mr. Galant. "A Wall Street presence will allow us to better support our client base through access to a larger talent pool of experienced capital markets professionals. As always, our goal is to provide our clients with the highest level of customer service.
ABOUT GAIN CAPITAL GROUP
GAIN Capital Group is a leading non-bank provider of foreign exchange services, including direct-access trading and asset management. Founded in 1999 by Wall Street veterans, GAIN is one of the largest, most respected firms in the industry, servicing clients from more than 140 countries around the globe. Monthly trade volume currently exceeds $100 billion per month.
The company operates two full service web portals. FOREX.com (www.forex.com) services individual investors of all experience levels with a full-service trading platform, lower account minimums and extensive education and training. The company's flagship service, GAIN Capital (www.gaincapital.com) focuses on the needs of professional forex traders, money managers and experienced forex day traders.
In October 2005, GAIN Capital Group was named the 9th Fastest Growing Technology Firm in North America on the Deloitte Fast 500, with four-year revenue growth of over 23,000 percent. GAIN also made this year's Inc 500, a listing of the fastest-growing privately held firms in the United States.
GAIN Capital Group is a registered Futures Commission Merchant (FCM) and a member of the National Futures Association.
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