GAIN Capital Holdings, Inc. (NYSE: GCAP), the U.S. based provider of online trading services, announced that it has successfully migrated the former U.S. customers of FXCM Inc (NASDAQ: FXCM) to GAIN’S retail brand FOREX.com.
Over the weekend, GAIN transferred over 47,000 accounts with total assets of approximately $142 million.
To ensure that the migration was successful and that the transferred customers were fully supported, GAIN took several key steps, including creating a microsite dedicated to former FXCM customers with information regarding the transfer process and training on FOREX.com’s products and services, increasing customer service staffing levels and extending weekend support hours.
In advance of the transfer, GAIN also made several significant enhancements to its products and services including integrating TradingView charts on FOREX.com’s 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.
Glenn Stevens, CEO of GAIN Capital said:
We are very pleased with this weekend’s successful account migration. 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.
Following GAIN’s acquisition of FXCM’s U.S. customer base, FOREX.com is now the largest provider of retail FX in the United States, with over 70,000 customer accounts.
GAIN Capital is currently regulated in eight jurisdictions, with approximately 140,000 customers and over $1.5 billion in assets.
In addition to its U.S. regulated retail forex business, GAIN operates regulated retail trading operations in the United Kingdom, Japan, Hong Kong, Australia, Singapore, Grand Cayman and Canada, conducting its retail trading business globally under its FOREX.com and City Index brands
GAIN operates a broadly diversified business, which, in addition to its retail FX business, includes a U.S.-based retail futures business and international institutional trading business, GTX.