Gain Capital, a provider of online foreign exchange trading services, has acquired a controlling stake in Fortune Capital, a privately-owned provider of forex trading services in Japan.
Fortune Capital is a white label partner to Gain Capital since 2002 and it maintains a tier one securities license with Japan’s Financial Services Agency. 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 plans to introduce new products and services, including an upgraded, localised version of Gain’s trading platform, tighter spreads, enhanced charting tools, real-time FX news and commentary and improved online funding capabilities.
Glenn Stevens, CEO of Gain Capital, said: The acquisition of Fortune Capital is an important step in our strategy of expanding Gain’s business globally. 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.
Wee Pin Tan, founder and CEO of Fortune Capital, said: 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.
