Elevate the quality of your trading, account management and reporting with GAIN's suite of front to back office services.
Money managers trading pooled or individual client funds benefit from GAIN's trading and administrative tools and services.
With consistent price fills, priority access to GAIN's senior traders and research staff and sophisticated trading platforms and reporting tools, GAIN's money manager solution is one of the most competitive in the marketplace.
GAIN provides a dedicated team of account management specialists to provide ongoing back-office support, and help reduce your administrative responsibilities.
As a money manager, you have the option of establishing your own cash- or pip-based fee structure for your clients. These fees can be customized on a per-client basis or by trade definition.
GAIN's comprehensive money manager solution includes the following:
Minato-ku, Tokyo - Mar 17, 2006 - FORTUNE Capital, a leading non-bank provider of foreign exchange(FOREX) trading services, is proud to announce that it has successfully received the Financial & Futures license from Financial Services Agency of Japan in accordance to Japanese Financial Futures regulation law No. 56th.
The licensing and registration are new requirements from firms offering forex trading services, as outlined in revisions to Japanese Financial Futures Trading Law, which took effect on July 1, 2005.
We, FORTUNE Capital will continually strive to provide a safe, reliable and exclusive services to all our clients.
We appreciate your warm support on choosing FORTUNE Capital.
Registration Detail:
Registration Date : Mar 17th, 2006.
Registration Number : No. 119
Company Name : FORTUNE Capital Co., Ltd.
Member Association : The Financial Futures Association of Japan
Expand your business and revenue potential while offering your referred clients one of the highest available level of service and support.
GAIN Capital's Introducing Broker Program allows individuals or entities to receive compensation for directing new clients to GAIN Capital.
Refer new self-directed or managed account clients to GAIN and earn a steady stream of compensation. In return, GAIN provides all of the essential tools and resources you need to launch and manage a successful IB operation.
We are committed to delivering the highest levels of service and a quality product offering to help you grow your business.
As an Introducing Broker, you and your clients will benefit from
FORTUNE Capital offers FX traders the highest possible level of price transparency via real time streaming quotes, and a speed of execution that's unmatched in the marketplace.
Real-time bid/ask prices are continually streamed out to clients via our internet-based dealing software. To trade, clients simply click on the current bid or offer. Deals are confirmed instantaneously. Moreover, our trading platform is completely anonymous. We publish one bid/offer and allow any client to deal on the available price. This dealing practice ensures that all FX traders receive a firm, fair price on their FX transactions and eliminates slippage and re-quoting, both common complaints of forex traders.
State of the Art Trading Technology
Our trading platform is built for active FX traders. All trading functions can be performed from a single screen, including trade execution, order entry and technical analysis. One-click dealing ensures rapid-fire dealing? a distinct advantage in the fast moving FX market. All trading activity is tracked onscreen in real time, including current open positions, real-time profit and loss, margin availability, account balances, and all historical transaction details. Available decision support tools include a robust charting package, real-time streaming market news, a global economic calendar, and intraday market commentary.
Superior Liquidity
Our relationship with GAIN Capital, a registered Futures Commission Merchant (FCM) and one of the largest and most respected online FX market makers in the industry, ensures our ability to offer consistent liquidity and tight, aggressive dealing spreads to our client base. Our normal dealing spreads are 3-6 pips on all major currencies.
Full Services For Professional Traders
Fund managers, CTAs and other institutional investors realize significant cost savings and operational efficiencies by trading online instead of via the telephone. We can provide a full suite of back office services specifically for traders who manage funds on behalf of multiple clients, including automated trade allocation, online reporting, end of month statements, pip and dollar commission reporting, etc.
Deal with Professionals
FORTUNE's management team is a group of respected Foreign Exchange Market veterans with extensive experience running large, global trading operations. In addition to successfully operating a 24x5 business with solid risk management and operating procedures, the entire FORTUNE team is fully committed to offering our clients exemplary customer service and complete safety of funds.
The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover of well over US$1 trillion -- 30 times larger than the combined volume of all U.S. equity markets
To illustrate a typical FX trade, consider the following example.
The current bid/ask price for USD/JPY is 125.20/125.25, meaning you can buy $1 US for 125.25 Japanese Yen or sell $1 US for 125.20.
Suppose you decide that the US Dollar (USD) is undervalued against the Japanese Yen (JPY). To execute this strategy, you would buy Dollars (simultaneously selling Yen), and then wait for the exchange rate to rise.
So you make the trade: purchasing US$100,000 and selling 12,525,000 Yen. (Remember, for Normal Trading account, your initial margin deposit would be $4,000, or Day Trading account for $1,000)
As you expected, USD/JPY rises to 126.40/45. You can now sell $1 US for 126.40 Yen or buy $1 US for 126.45 Yen. Since you bought Dollars and sold Yen in your previous trade, you must now sell Dollars for Yen to realize any profit. If you sell US$100,000 at the current USD/JPY rate of 126.40, you will receive 12,640,000 JPY.
Since you originally sold (paid) 12,525,000 JPY, your profit is 120,000 JPY. To calculate Dollar-based P&L, simply divide 115,000 by the current USD/JPY rate of 126.40.
Total profit = US $909.81
Factors affecting the market
Currency prices are affected by a variety of economic and political conditions, most importantly interest rates, inflation and political stability. Moreover, governments sometimes participate in the Forex market to influence the value of their currencies, either by flooding the market with their domestic currency in an attempt to lower the price, or conversely buying in order to raise the price. This is known as Central Bank intervention. Any of these factors, as well as large market orders, can cause volatility in currency prices. However, the size and volume of the Forex market makes it impossible for any one entity to "drive" the market for any length of time.
Fundamental vs. Technical Analysis
Currency traders make decisions using both technical factors and economic fundamentals. Technical traders use charts, trend lines, support and resistance levels, and numerous patterns and mathematical analyses to identify trading opportunities. Fundamentalists predict price movements by interpreting a wide variety of economic information, including news, government-issued indicators and reports, and even rumor.
The most dramatic price movements however, occur when unexpected events happen. The event can range from a Central Bank raising domestic interest rates to the outcome of a political election or even an act of war. Nonetheless, more often it is the expectations surrounding an event that drives the market rather than the event itself.
"Foreign Exchange" is the simultaneous buying of one currency and selling of another. Currencies are traded in pairs, for example Euro/US Dollar (EUR/USD) or US Dollar/Japanese Yen (USD/JPY).
There are two reasons to buy and sell currencies. About 5% of daily turnover is from companies and governments that buy or sell products and services in a foreign country or must convert profits made in foreign currencies into their domestic currency. The other 95% is trading for profit, or speculation.
For speculators, the best trading opportunities are with the most commonly traded (and therefore most liquid) currencies, called "the Majors." Today, more than 85% of all daily transactions involve trading of the Majors, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar.
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night.
The FX market is considered an Over The Counter (OTC) or 'interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network. Trading is not centralized on an exchange, as with the stock and futures markets.
Quoting Conventions
As with all financial products, FX quotes include a 'bid' and 'offer'. The 'bid' is the price at which a dealer is willing to buy (and clients can sell) the base currency for the counter currency. The 'ask' is the price at which dealers will sell (and clients can buy) the base currency for the counter currency.
The US dollar is the centerpiece of the Forex market and is normally considered the 'base' currency for quotes. In the "Majors", this includes USD/JPY, USD/CHF and USD/CAD. For these currencies and many others, quotes are expressed as a unit of $1 USD per the other currency quoted in the pair. The exceptions to USD-based quoting include the Euro, British pound (also called Sterling), and Australian dollar. These currencies are quoted as dollars per foreign currency as opposed to foreign currencies per dollar
NEW YORK - March 18, 2009 - GAIN Capital Holdings Inc., a global provider of online foreign exchange (forex) trading services, today announced that it has acquired a controlling stake in Fortune Capital Co. Ltd, a privately-owned provider of forex trading services in Japan. A white label partner to GAIN Capital since 2002, Fortune Capital maintains a Tier 1 securities license with Japan's Financial Services Agency (FSA).
"The acquisition of Fortune Capital is an important step in our strategy of expanding GAIN's business globally," said Glenn Stevens, CEO of GAIN Capital. "Fortune Capital is a respected player in the Japanese market, with high standards for reliability and customer service. Through Fortune Capital, we look forward to introducing GAIN's full capabilities to the Japanese market. This includes a broader product range, enhanced trading tools and, of course, our market-leading trade execution capabilities."
"GAIN Capital is a worldwide leader in retail forex. Their FOREX.com division is one of the top retail forex trading websites in the world, and I look forward to leveraging their expertise and resources in order to provide world-class products and services to forex traders in Japan," commented Wee Pin Tan, founder and CEO of Fortune Capital. "Fortune Capital customers will also benefit from a greater level of financial security that comes from being part of a well-capitalized, multi-national company."
The financial terms of the transaction were not disclosed. Wee Pin Tan retains a minority stake in the company and will continue in his current role as CEO.
Over the next several months, Fortune Capital will introduce new products and services, including an upgraded, fully localized version of GAIN's award-winning trading platform, tighter spreads, enhanced charting tools, real-time FX news and commentary, and improved online funding capabilities.
GAIN Capital Group is a market leader in the rapidly growing online forex industry. A global client base from over 140 countries draws upon GAIN's experience, resources and proven FX trading technology to manage their foreign exchange needs.
The origin of FOREX trading traces its history to centuries ago. Different currencies and the need to exchange them had existed since the Babylonians. They are credited with the first use of paper notes and receipts. Speculation hardly ever happened, and certainly the enormous speculative activity in the market today would have been frowned upon.
those days, the value of goods were expressed in terms of other goods(also called as the Barter System). The obvious limitations of such a system encouraged establishing more generally accepted mediums of exchange. It was important that a common base of value could be established. In some economies, items such as teeth, feathers even stones served this purpose, but soon various metals, in particular gold and silver, established themselves as an accepted means of payment as well as a reliable storage of value. Trade was carried among people of Africa, Asia etc through this system.
Coins were initially minted from the preferred metal and in stable political regimes, the introduction of a paper form of governmental I.O.U. during the Middle Ages also gained acceptance. This type of I.O.U. was introduced more successfully through force than through persuasion and is now the basis of today’s modern currencies.
Before the First World war, most Central banks supported their currencies with convertibility to gold. However, the gold exchange standard had its weaknesses of boom-bust patterns. As an economy strengthened, it would import a great deal from out of the country until it ran down its gold reserves required to support its money; as a result, the money supply would diminish, interest rates escalate and economic activity slowed to the point of recession. Ultimately, prices of commodities had hit bottom, appearing attractive to other nations, who would sprint into buying fury that injected the economy with gold until it increased its money supply, drive down interest rates and restore wealth into the economy.. However, for this type of gold exchange, there was not necessarily a Centrals bank need for full coverage of the government's currency reserves. This did not occur very often, however when a group mindset fostered this disastrous notion of converting back to gold in mass, panic resulted in so-called "Run on banks " The combination of a greater supply of paper money without the gold to cover led to devastating inflation and resulting political instability. The Great Depression and the removal of the gold standard in 1931 created a serious lull in FOREX market activity. From 1931 until 1973, the FOREX market went through a series of changes. These changes greatly affected the global economies at the time and speculation in the FOREX markets during these times was little.
Inorder to protect local national interests, increased foreign exchange controls were introduced to prevent market forces from punishing monetary irresponsibility.
Near the end of World War II, the Bretton Woods agreement was reached on the initiative of the USA in July 1944. The conference held in Bretton Woods, New Hampshire rejected John Maynard Keynes suggestion for a new world reserve currency in favor of a system built on the US Dollar. International institutions such as the IMF, The World Bank and GATT were created in the same period as the emerging victors of WWII searched for a way to avoid the destabilizing monetary crises leading to the war. The Bretton Woods agreement resulted in a system of fixed exchange rates that reinstated The Gold Standard partly, fixing the USD at $35.00 per ounce of Gold and fixing the other main currencies to the dollar, initially intended to be on a permanent basis.
Discuss GCI Online forex trading account at the Forex within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Has anybody used this online broker for forex trading? www.gcitrading.com Thanks Prashanth...
Rapid and fair trade execution. Market orders are confirmed within seconds at prices clicked on or accepted by the client. Furthermore, GCI has a "zero slippage guarantee" for all Forex Stop and Entry Stop orders that are placed at least one minute before the market reaches your specified price.
Zero commissions for all accounts. Client trading performance is enhanced by eliminating all commissions.
State-of-the-art trading software. The GCI trading software provides real-time prices in 23 major currencies, 5 equity indices, plus gold, silver, and crude oil. Live charts, and real-time P&L and account equity tracking are fully integrated into the free software. Windows-based and Java-based versions are available.
USD or Euro Denominated Trading Accounts. GCI clients can now choose to maintain their account balance and P&L in either USD or Euros. Select the Base Currency you want for your account on the account application.
Tight 2 - 3 pip spreads. Clients can trade on 2 - 3 pip spreads in major currencies and crosses, 24 hours a day.
Broad offering of financial products. In addition to currencies, you can trade mini versions of Dow Jones, Gold, S&P 500, other equity indices from your Mini Forex account. Trading opportunities and profit potential are that much higher. Click here for a full list of products and specifications.
$2000 minimum account balance. GCI provides access to spot forex trading for individuals as well as institutions. Margin requirements are $50 per lot.
Risk is limited to deposited funds. GCI's sophisticated margin and dealing procedures mean that clients can never lose more than their funds on deposit.
Hedging Capability. Clients can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
Tools for successful trading. GCI clients benefit from a wide array of resources to improve their trading results, including market analysis and research, real-time charts, and free Forex trading signals.
GCI's margin requirements are the most advantageous in the industry: Standard Forex Account: $500 per lot on all instruments. Equivalent to approximately 0.5% margin or 200:1 leverage. Mini Forex Account: $50 per lot on all instruments. Equivalent to approximately 0.5% margin or 200:1 leverage. Share CFD Account: $500 per lot on all instruments. Equivalent to approximately 1.0% margin or 100:1 leverage. Mini Share Account: $50 per lot on all instruments. Equivalent to approximately 1.0% margin or 100:1 leverage. GCI is able to maintain these low margin requirements by enabling automatic liquidation of positions once a margin call is reached. This policy also provides for the protection of client account balances in the event of rapid price movements. A margin call is reached if a client's account equity falls below the required margin. For example, in a Standard FX account, if a client has 10 lots of open positions a margin call will occur if account equity drops below $5,000. At this point, some or all of the client's open positions will be closed immediately at current prices. Traders are also able to monitor both usable margin and used margin in real-time from the "Account Information" window of the online trading platform. Positions will be automatically closed once usable margin drops below zero. Walk through an example... GCI encourages clients to avoid margin calls by either using stop loss orders or maintaining adequate funds in the account relative to position size.
More on CFD Margins
Share CFDs are traded in lots that are equivalent in size to 1,000 shares each. For example, a trader can purchase 1 lot of a CFD on Microsoft at $51, for a total position value of $51,000. The required margin for this trade is $500. Indices, Forex and Commodities are traded in "lots". We have reduced the size of certain index and futures contracts to bring the margin requirement down to $500 per lot. This provides the dual benefit of allowing individual traders to start with smaller positions and lower risk, and to allow larger traders to adjust their position sizes more precisely. Please see specifications for further information on contract sizes.
Standard Forex and Share CFD Account Margin Option
Margin requirements for the Standard Forex and Share CFD accounts are set to $500 per lot by default. With this margin setting, clients pay the daily carry as per the amounts shown in the "Currency Reference Rates"/"Instruments" window of the trading platform, regardless of position direction. However, clients can choose to have their margin requirements set at $2,000 per lot, in which case they will pay or receive based on position direction. In this case, negative amounts shown in the "Currency Reference Rates" window are the amounts that the client will pay, and positive amounts are the amounts that the client will receive.
Mini Forex and Mini Share Account Margin Option
Margin requirements for the Mini Forex and Mini Share accounts are set to $50 per lot by default. With this margin setting, clients pay the daily carry as per the amounts shown in the "Currency Reference Rates"/"Instruments" window of the trading platform, regardless of position direction. However, clients can choose to have their margin requirements set at $200 per lot, in which case they will pay or receive based on position direction. In this case, negative amounts shown in the "Currency Reference Rates" window are the amounts that the client will pay, and positive amounts are the amounts that the client will receive.
CFDs, or "Contracts for Difference", are an efficient means for trading stock indices, futures, shares, and commodities. GCI clients can trade CFDs on all of these products with 1% margin and zero commissions, utilizing state-of-the-art online dealing software. Traders can view prices and execute trades in real time. Popular financial products that can be traded commission-free on GCI's trading software include the following:Stock Market Indices
I have been working with them for over two years, there was a time when I had no problems with them, but now they have started to suck, they are working on dealing desk now, you can not get a price on a single click, I have to wait for 2 or 3 min before I get a requote that is far away for the price on the screen, the stop loss and limit orders also do not work. GCI is the only broker in the world who discourages trading, if I trade more or try to make quick PIPS they will do everything to stop me, even blocking my account, I wonder why they do this, I mean they should be the one asking me to do as many lots as possible, coz this is their earning but case is opposite here. Trust me dear traders if you are planning to open an account with GCI....this will be the worst thing you do ever in your life. If you really want to waste you money....go to some bar and enjoy your life but please don’t give it to GCI.
The original USD LIBOR technical predictability note presented a time-integrated measurement of autocorrelations and cross-correlations associated with the USD LIBOR of various maturities. This note follows up on the topic with a time-evolution study, splitting the 2002-2008 range into separate year-long intervals. Due to changes in volatility, the integrated picture might be dominated by a few time periods of the highest volatility. For this and other reasons, a time-evolution study is useful. It's interesting that LIBOR correlations from 2008, the year of credit crisis, look neither uninformative nor artificial. While the LIBOR patterns of 2008 are quantitatively different from other years, they do not look fundamentally different from other years with falling interest rates.
he negative correlation peak of Pound Sterling/US Dollar and US Dollar/Swiss Franc, when studied with hour time scale resulution, looks symmetric and wider than one bin. Therefore, either exchange rate may have predictive influence on the other. Of course, this is a time-integrated picture and the time evolution may have more complex structure: the symmetric peak may be composed out of a number of asymmetric ones.
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