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Forex broker Forex.com, part of US forex brokerage group Gain Capital (NYSE:GCAP), said on Monday it has launched Active Trader, a new type of account for active traders with a requirement of a minimum initial deposit and a monthly balance of $20,000. The offering is available to clients in the US and Canada, but within the coming months will also be rolled out to the rest of the markets where the broker operates.
The Active Trader account will only be accessible via the broker’s in-house FOREXTrader platform and will not be offered to traders using the MetaTrader 4 (MT4) or any Managed Accounts and accounts referred by an introducing broker (IB).
The new account offers high-volume forex traders a number of high incentives, including preferred pricing, no account fees, dedicated support and account management, as well as priority handling of all service request.
“We recognize the unique needs of high volume FX traders and challenged ourselves to develop a service that offered a rewarding trading experience,” said Samantha Roady, president of retail at GAIN Capital. “The Active Trader account delivers that through value pricing, unique trader services and high touch, personalized support,” she added.
Traders who open an Active Trader account will automatic receive discounts on standard spreads (15% on average), as well as an opportunity to earn additional discounts of up to 50% on spreads, depending on the monthly trading volume. For more details on what trading volume levels are required to get a certain spread reduction percentage, please see below:
Traders should consider that if the monthly balance of their Active Trader accounts falls below $20,000 for three consecutive months, their accounts may be switched to a standard one.
In addition to the newly-launched Active Trader accounts, the broker also offers Standard account with a minimum deposit requirement of $50.
Gain Capital operates under the trading brands Forex.com and City Index for retail clients and GTX and Gain Capital for institutional operations. It offers trading in forex, commodities, bonds, indices, and global equities, among others. It is active in North America, Europe and the Asia Pacific regions.