GAIN Capital
| Company type | Public (until 2020) |
|---|---|
| Industry | Online trading services, Financial services |
| Founded | 1999 in Bedminster, New Jersey, United States |
| Defunct | 2020 |
| Fate | Acquired by StoneX Group |
| Successor | StoneX Group |
| Headquarters | Warren, New Jersey , United States |
Area served | Worldwide (over 140 countries) |
| Products | Forex.com, City Index, GTX, SALT Invest, Daniels Trading, FOREXTrader PRO/StoneX Pro, MetaTrader 4 |
| Owner | StoneX Group (since 2020) |
| Parent | StoneX Group |
GAIN Capital Holdings, Inc. operated as a United States-based firm specializing in online trading services, with its headquarters located in Warren, New Jersey, prior to its 2020 acquisition by StoneX Group. The company provided retail and institutional investors with access to markets and execution capabilities across forex, CFDs, and exchange-traded instruments. Clients engaged in margin forex trading through proprietary platforms such as FOREXTrader PRO (later rebranded as StoneX Pro) and MetaTrader 4.
The firm oversaw several retail forex and CFD brands, notably Forex.com and City Index, in addition to GTX, a multi-dealer FX ECN platform catering to hedge funds and institutional clients. Its portfolio also included SALT Invest, an advisory CFD enterprise, and Daniels Trading, a futures brokerage.
History
Established in 1999 in Bedminster, New Jersey, GAIN Capital was among the pioneers in the online forex trading sector.
The company went public on the NYSE in 2010; however, its initial public offering was reduced due to pricing falling below initial expectations.
In October 2014, GAIN Capital expanded its CFD operations and UK forex market presence by acquiring UK competitor City Index for $118 million.
Following regulatory actions against FXCM by the Commodity Futures Trading Commission and National Futures Association, GAIN Capital purchased FXCM’s US client accounts on February 7, 2017. The acquisition, valued at $7.2 million, was based on the clients' trading volumes.
StoneX Group Inc. (formerly INTL FCStone) finalized a full cash acquisition of GAIN Capital in February 2020 for roughly $236 million in equity value, enhancing its standing within the global brokerage sector.
Operations
With headquarters in the United States, GAIN Capital served clients across more than 140 countries, generating over half of its revenues from international markets. The company maintained offices in major financial hubs such as New York City, London, Sydney, Hong Kong, and Tokyo. Its primary retail Forex platform was Forex.com, supplemented by white-label products offered to various online Forex brokers globally.
Regulatory issues
In May 2008, GAIN Capital was reprimanded by the Chinese regulator, the China Banking Regulatory Commission, for providing retail forex services to Chinese residents without authorization. This resulted in a suspension of services to Chinese clients until 2010.
In October 2010, the National Futures Association imposed a $459,000 penalty on GAIN Capital related to practices involving margin requirements, liquidation procedures, and price slippage that adversely affected customers. The firm committed to reimbursing clients who experienced negative slippage on trades executed between May 1 and July 31 of that year.