08 August 2003
LONDON. Forex Capital Markets Limited commenced operations in the UK on July 8 with the opening of its London office and the launch of its web site (www.fxcm.co.uk). The firm offers 24 hour, commission free currency trading by phone or Internet. Forex Capital Markets Limited is the newest member of FXCM Group (www.fxcm.com), which executes over $25 billion in currency transactions per month and has offices in New York, Hong Kong, and Tokyo.
After successfully completing the Financial Services Authority (FSA) regulatory approval process in May, Forex Capital Markets Limited is eager to compete in the UK marketplace. The FXCM Group has successfully launched operations in the United States, Japan and Hong Kong, where it has displaced competitors as the main provider of online forex services. With a substantial portion of 18,000 clients migrating from competing firms, FXCM has strong evidence that it offers a superior product.
Colin Geiger, the firm’s Chief Executive Officer says a tight focus on forex trading and cutting edge technology will enable Forex Capital Markets Limited to become a UK industry leader.
“I am convinced that no other UK institution can top the superior execution and technology that we provide to private clients. FXCM can provide a superior Forex trading product because our complete focus and energy is devoted to the forex market,” Geiger said. “The standards for inter-bank and institutional trading have been raised due to advances in technology and the leadership of UK institutions. Forex Capital Markets Limited plans to raise the bar for non-institutional forex trading.”
“At FXCM we give the power to the trader, not the market maker,” said Marc Prosser, Chief Marketing Officer of FXCM Group. “We offer instant execution of transparent prices based on real time streaming quotes. If you see a quote you like, simply click on it and it’s yours. Our prices are better than other firms who operate on a request-a-quote system and shade the price to the disadvantage of the trader.”
Unlike trading platforms of competing firms, FXCM Group’s proprietary FX Trading Station is designed to maximize speed and functionality for currency trading. “Other UK firms out there dabble in forex along with CFD trading, spread betting, and trading stocks. We have built a forex platform from the ground up and made improvements based on the feedback of our 18,000 forex clients. Clients switching to our platform will be most surprised by the back-office functionality, which not only gives clients the ability to generate up-to-the-second statements on demand, but eliminates the need to calculate P/L on residual balances,” Prosser stated.
Geiger remarks, “I urge anyone who is interested in forex trading to hit the web site (www.fxcm.co.uk) and open a free demo account. The product quite simply speaks for itself.”
Forex Capital Markets Limited has high expectations. The firm’s goal is to capture 40 percent of the market for non-institutional online currency trading in the UK within 2 years. This would be in line with the firm’s success in the US market, where the firm estimates its market share at 50 percent. The firm will start its initial UK advertising campaign in August with banners appearing on 8 UK financial web sites.
-Ends-
About Forex Capital Markets Limited and FXCM Group
Forex Capital Markets Limited (www.fxcm.co.uk) based in London, offers 24 hour, commission free currency trading by phone or Internet. The firm is regulated by the Financial Services Authority (FSA ID# 217689). Forex Capital Markets Limited is a member of the FXCM Group.
FXCM Group (www.fxcm.com) specializes in providing online foreign exchange services to private clients, hedge funds and financial institutions throughout the world. With member firms located in New York, London, Hong Kong, and Tokyo, the FXCM Group has enormous combined resources, experience, and international reach. The members of the FXCM Group include: FXCM Asia (Hong Kong), Forex Capital Markets LLC (US), Forex Capital Markets Limited (UK) and Forex Capital Markets Japan. Forex Capital Markets Limited (UK) is the newest member of the FXCM Group. The FXCM Group serves more than 18,000 clients and its average monthly trading volume exceeds $25 billion.
FXCM Contact Information
Press Contact: Kristen Nastanski
If you would like to contact Marc Prosser or Colin Geiger for an interview or require additional information, please speak with Kristen Nastanski at the contacts below.
Phone: 212-897-7660
Fax: 212-897-7669
E-mail: knastanski@fxcm.com
Forex Capital Markets Limited
60 Lombard Street
London EC3V 9EA
Main Number: 020-7464-8408
Fax: 020-7464-8730
Web site: www.fxcm.co.uk
E-mail: info@fxcm.co.uk
FXCM Group
11 Broadway, 13th Floor
New York, NY 10004
USA
Main Number: + 212.897.7660
Fax: +212.897.7669
Web site: www.fxcm.com
E-mail: info@fxcm.com
LONDON. Forex Capital Markets Limited commenced operations in the UK on July 8 with the opening of its London office and the launch of its web site (www.fxcm.co.uk). The firm offers 24 hour, commission free currency trading by phone or Internet. Forex Capital Markets Limited is the newest member of FXCM Group (www.fxcm.com), which executes over $25 billion in currency transactions per month and has offices in New York, Hong Kong, and Tokyo.
After successfully completing the Financial Services Authority (FSA) regulatory approval process in May, Forex Capital Markets Limited is eager to compete in the UK marketplace. The FXCM Group has successfully launched operations in the United States, Japan and Hong Kong, where it has displaced competitors as the main provider of online forex services. With a substantial portion of 18,000 clients migrating from competing firms, FXCM has strong evidence that it offers a superior product.
Colin Geiger, the firm’s Chief Executive Officer says a tight focus on forex trading and cutting edge technology will enable Forex Capital Markets Limited to become a UK industry leader.
“I am convinced that no other UK institution can top the superior execution and technology that we provide to private clients. FXCM can provide a superior Forex trading product because our complete focus and energy is devoted to the forex market,” Geiger said. “The standards for inter-bank and institutional trading have been raised due to advances in technology and the leadership of UK institutions. Forex Capital Markets Limited plans to raise the bar for non-institutional forex trading.”
“At FXCM we give the power to the trader, not the market maker,” said Marc Prosser, Chief Marketing Officer of FXCM Group. “We offer instant execution of transparent prices based on real time streaming quotes. If you see a quote you like, simply click on it and it’s yours. Our prices are better than other firms who operate on a request-a-quote system and shade the price to the disadvantage of the trader.”
Unlike trading platforms of competing firms, FXCM Group’s proprietary FX Trading Station is designed to maximize speed and functionality for currency trading. “Other UK firms out there dabble in forex along with CFD trading, spread betting, and trading stocks. We have built a forex platform from the ground up and made improvements based on the feedback of our 18,000 forex clients. Clients switching to our platform will be most surprised by the back-office functionality, which not only gives clients the ability to generate up-to-the-second statements on demand, but eliminates the need to calculate P/L on residual balances,” Prosser stated.
Geiger remarks, “I urge anyone who is interested in forex trading to hit the web site (www.fxcm.co.uk) and open a free demo account. The product quite simply speaks for itself.”
Forex Capital Markets Limited has high expectations. The firm’s goal is to capture 40 percent of the market for non-institutional online currency trading in the UK within 2 years. This would be in line with the firm’s success in the US market, where the firm estimates its market share at 50 percent. The firm will start its initial UK advertising campaign in August with banners appearing on 8 UK financial web sites.
-Ends-
About Forex Capital Markets Limited and FXCM Group
Forex Capital Markets Limited (www.fxcm.co.uk) based in London, offers 24 hour, commission free currency trading by phone or Internet. The firm is regulated by the Financial Services Authority (FSA ID# 217689). Forex Capital Markets Limited is a member of the FXCM Group.
FXCM Group (www.fxcm.com) specializes in providing online foreign exchange services to private clients, hedge funds and financial institutions throughout the world. With member firms located in New York, London, Hong Kong, and Tokyo, the FXCM Group has enormous combined resources, experience, and international reach. The members of the FXCM Group include: FXCM Asia (Hong Kong), Forex Capital Markets LLC (US), Forex Capital Markets Limited (UK) and Forex Capital Markets Japan. Forex Capital Markets Limited (UK) is the newest member of the FXCM Group. The FXCM Group serves more than 18,000 clients and its average monthly trading volume exceeds $25 billion.
FXCM Contact Information
Press Contact: Kristen Nastanski
If you would like to contact Marc Prosser or Colin Geiger for an interview or require additional information, please speak with Kristen Nastanski at the contacts below.
Phone: 212-897-7660
Fax: 212-897-7669
E-mail: knastanski@fxcm.com
Forex Capital Markets Limited
60 Lombard Street
London EC3V 9EA
Main Number: 020-7464-8408
Fax: 020-7464-8730
Web site: www.fxcm.co.uk
E-mail: info@fxcm.co.uk
FXCM Group
11 Broadway, 13th Floor
New York, NY 10004
USA
Main Number: + 212.897.7660
Fax: +212.897.7669
Web site: www.fxcm.com
E-mail: info@fxcm.com
© Press Release 2003
