Foreign exchange trading services provider Forex.com has launched online trading services for Australian investors and has established its first Australian office in Sydney.
"Launching operations in Australia is part of a long-term strategic goal to service our clients locally wherever possible," said Glenn Stevens, chief executive of Forex.com owner Gain Capital.
"Gain Capital has a growing global footprint, and we believe our Forex.com service will be well received by traders in Australia and New Zealand who are looking for a well-capitalised firm that offers premium trading tools and research, competitive pricing and, of course, a solid reputation," he said.
The new service enables investors to trade in major currencies, including the Australian dollar, New Zealand dollar, US dollar, euro and British pound, as well as gold, silver and oil contracts for difference (CFDs).
The service includes real-time forex news from Dow Jones, research and trading ideas from a global research team, educational resources and local funding options, and account services such as Australian dollar and New Zealand dollar denominated trading accounts.
The Sydney office will initially have a small staff whose responsibility will be to provide customer sales and support.
"During 2010 we expect to expand our Sydney team to 10 to 15 people," a company spokesperson said.
Gain Capital has offices in the US, UK, Hong Kong, Japan and Korea, and expects to open more offices later this year.
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