Market News The latest news, announcements, services and trading tools to hit the market.
Trading Starts Here eToro Releases Chinese Version of OpenBook eToro, the world’s largest investment network, has announced the availability of OpenBook, an online social trading platform used to trade foreign currencies, commodities and indices, in Chinese Mandarin. eToro's OpenBook provides real-time feeds of expert traders' positions and profits, and the ability to quickly identify the best performing traders. It includes the award winning CopyTrader™ feature, which instantly copies all the top trader’s trades into a personal investment portfolio.
Online financial trading for the private investor is on the rise in China. Retail online trading contributed a majority of retail investor trading, 51 per cent of total retail investor trading in 2009/10, up from 43 per cent in 2008/09, according to the HKEx Derivatives Market Transaction Survey.
“China has just passed the United States as the country with the largest Internet population in the world," said eToro CEO, Johnathan Assia. "We are proud to lead the social trading revolution in China by providing investors with an easy-to-use trading platform combined with a community-powered investment network."
To tap into the largest investment network visit: www.etoro.com.
FOREX.com Launches New German Service in Support of LongTerm European Expansion Plans
FOREX.com, the online retail trading division of GAIN Capital Holdings, Inc. (NYSE: GCAP), has launched a new service providing German investors access to more than 70 markets including FX, indices and commodities. The move is part of GAIN Capital’s ongoing European expansion, having established FOREX.com in the UK in 2009 and following last year’s acquisition of Deutsche Bank’s retail trading business, dbFX.
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Glenn Stevens, CEO, GAIN Capital, commented, “FX trading is growing rapidly in Germany: last year alone it increased by an estimated 30% and as a result we saw significant demand for a fully localised German FOREX.com service. We are confident that this trend will continue into 2012 and beyond, and that we can gain significant market share to become a leader in German online trading in the coming years.”
According to the Bank of International Settlements Triennial Central Bank Survey, the global foreign exchange market reached $4.0 trillion in average daily turnover in 2010, 20% higher than in
2007. “Retail investors are increasingly aware of the importance foreign currencies play in global economics and the impact currency values have on other forms of investment. With the euro facing a crucial test as the national debt crisis continues to gather pace it is a really interesting time for retail investors to add foreign exchange to their investment portfolio,” said Kathleen Brooks, Director of Research at FOREX.com.
Clients can access the trading platform as a download, through web and mobile browsers, and through native apps for iPhone, iPad and Android – giving them the ability to manage their accounts and access real-time charts and news on the move. Every client benefits from FOREX.com's commitment to complete price transparency and quality trade execution, supported 24 hours a day, six days a week. A German-speaking support team is also available.
FOREX.com also offers the popular MetaTrader platform through its new German service, for traders who want to run automated strategies against the robust and competitive pricing of a market leader.
Traders should visit www.forex.com/de for more information, or to register for a free demo account.