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Gain Capital gains 47 000 ex-FXCM US clients with $142 mln. in assets

Feb 28 2017
By
Jonathan Smith

Major US forex broker Gain Capital, announced it has successfully migrated the accounts of 47 000 retail US clients of FXCM to its Forex.com retail brokerage brand. They have approximately $142 million in assets.

 
Following the dramatic exit of FXCM from the US earlier in February and the acquisition of its ex-clients, Gain Capital becomes the largest player on the US forex brokerage market, with over 70 000 client accounts. 
 
To make life easier for the former FXCM clients, Gain Capital made a micro site dedicated to them, containing information regarding the transfer process and training on FOREX.com's products and services. Additionally, the broker increased its staff and extended weekend support hours. 
 
Before the transfer Gain Capital enhanced its products and services by integrating TradingView charts on the Forex.com desktop platform,  extending Forex.com's Active Trader program to MetaTrader4 (MT4) customers and providing access to an increased range of third party trading platforms used by migrating customers, such as NinjaTrader.
 
"We are very pleased with this weekend's successful account migration," said Glenn Stevens, CEO of GAIN Capital.  "In a short period of time, and with the help of the National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC), we successfully transferred over 47,000 accounts to Forex.com.  Our focus during this process was to make the experience as seamless as possible and ensure incoming customers receive the support they need."
 
Several days after the US regulators undertook the severe measures against FXCM, the two brokers revealed the financial parameters of the deal for the acquisition of the client accounts. Gain Capital agreed to pay $500 for each account with at least one new trade made in the first 76 calendar days after the closing of the deal and $250 for an account that makes at least one new trade between day 77 and day 153. 
 
 
TAGS: fxcm  gain capital  forex.com  us  clients 

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