...and 70% of mobile trading was on its iPhone app.
Gain Capital (Forex.com) held its annual shareholder meeting last week, and showed its shareholders a presentation containing some not-seen-before details on both its operations and strategic plans for the coming months.
One of the key numbers which stands out is that mobile trading averaged about $14.3 billion per month in Q1, or about 11% of Gain's $128 billion per month in retail volume. Mobile volume at Gain was thus up 330% over the past year. We believe that a lot of this gain (no pun intended) is due to Gain Capital's push in China and elsewhere in Asia, where adoption and use of mobile devices generally is well ahead of North America and Europe, especially when it comes to uses such as engaging in financial transactions.
Gain also announced a major strategic initiative planned for later this year to revamp its CFD offerings, and incorporate more community and social trading features. CFDs have been a weak area for Gain in the past.
Gain is coming off a very weak Q1, when it reported its second consecutive quarterly net loss.
For more on the global FX market see the LeapRate-Dow Jones Forex Industry Report.