StoneX, the new owner of the FOREX.com brand, has confirmed that the retail FX broker launched operations in Latin America.
According to a message by StoneX and FOREX.com posted on social media:
“We have spread our wings and landed in Latin America, expanding our borders and offering our award-winning online trading platforms to traders in Latin America”.
The website of FOREX.com Latin America is entirely in Spanish. It offers clients of the broker to trade over 80 currency pairs, to take a position on 15 global indices, access over 9,000 stocks, buy and sell US oil. The company also offers trading in cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin.
Clients of FOREX.com Latin America can trade via the FOREX.com and MetaTrader 5 platforms.
FOREX.com is a part of the StoneX family, a NASDAQ-listed company with total client assets valued at more than $5 billion as of March 2021.
As FX News Group has reported, StoneX Group Inc. (NASDAQ:SNEX) completed its acquisition of retail FX and CFD broker GAIN Capital Holdings in July 2020. GAIN Capital operated the Forex.com and City Index brands, which were folded into StoneX.
The transaction paid GAIN Capital shareholders $6 per share in cash, for a total deal value of $236 million. The transaction was hit with GAIN shareholder pushback, as the company’s fortunes turned and Forex.com started throwing off large amounts of cash at the outset of the Covid-19 crisis. However GCAP shareholders eventually voted overwhelmingly in favour of the deal.
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