| Type | Public |
|---|---|
| Traded as | NYSE: GCAP |
| Industry | Financial Services |
| Founded | 1999 |
| Headquarters | Bedminster, New Jersey, United States |
| Key people | Glenn Stevens CEO |
| Services | Financial broker, On-line forex trading |
| Employees | 380+ [1] |
| Website | www.gaincapital.com |
GAIN Capital is a global provider of online trading services based in Bedminster in the United States. GAIN Capital provides market access and trade execution services in foreign exchange, contracts for differences and exchange-based products to retail investors. Retail clients may trade through a proprietary platform, FOREXTrader PRO, or through the on-line trading platforms, MetaTrader 4. Services are provided to the retail market through its brand FOREX.com and via a number of brokers internationally.
GAIN Capital allows retail and institutional clients to speculate on global foreign exchange markets in what is known as ‘margin forex trading’.
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GAIN Capital was founded in 1999 in Bedminster, New Jersey, and was one of the early developers of on-line forex trading.
The company went public in 2010 when it floated part of its shareholdings on the NYSE; however, the initial IPO was scaled back at the last minute as target price was not reached.[2]
GAIN Capital is a US based firm but has serviced customers from over 140 countries worldwide and gains over half its revenue from outside the US. GAIN Capital and its affiliates have offices in New York City; Bedminster, New Jersey; London; Sydney; Hong Kong; Tokyo; Singapore and Seoul. The company's largest retail Forex website is Forex.com, though it also offers white label solutions for dozens of online Forex trading companies, most of which serve the global market.
In May 2008 it was told by the Chinese financial regulator, China Banking Regulatory Commission that it had breached rules that prohibition forex trading firms providing retail forex trading services through direct solicitation to Chinese residents through the internet without a permit. It stopped taking Chinese clients from that year and closed down its relationships with existing Chinese Introducing Brokers.[3]
In October 2010, Gain Capital was fined by the National Futures Association for allegedly engaging in margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers.[4]