This week, Global Trader 247 successfully launched its Spread/Contract for Difference (CFD) Trading offering into North America. The new company, Global Trader 247 Canada Inc, is based in Toronto and is registered with and regulated by the Ontario Securities Commission.
Global Trader 247, South Africa`s first online Spread/CFD Trading company, was founded in April 2000 and today employs 22 people. The company has enjoyed considerable success in bringing Spread Trading to South Africa. The South African office executes up to 2000 trades per day, from a local client base of 4 500 making it locally the leading international Spread Trading company. Global Trader 247 now has offices in South Africa, Ireland and Canada.
Fleur Gremmen, CEO of Global Trader 247, says: "We are delighted to be delivering on our stated global rollout strategy. The opening of the Toronto office is proof of the success of the business model Global Trader 247 has adopted since its inception, which is to allow for rapid operational roll-out once regulatory authorisation has been achieved. The Canadian market has limited product offerings that allow retail investors to trade international markets and financial assets, other than equities at reasonable rates - we aim to capture this market and leverage its South African and European offerings to the advantage of its global clients."
Global Trader 247 Canada Inc. has partnered with one of Canada`s largest banks, Canadian Imperial Bank of Commerce (CIBC), to host their client Trust Accounts. The partnership will allow fully automated fund transferring for trade execution - a first in the Global Trader 247 Group.
"The company offers Spread/CFD Trading offline and online to the Canadian retail market through its proprietary trading platform. They have already experienced strong interest for its diverse product offering and expects to take significant market share in the Canadian financial market," says Gremmen.
Once Global Trader 247 Canada Inc has established critical mass and has introduced CFDs on Canadian stocks and indices, their South African clients will be able to access and trade these products from SA as well.
Gremmen says: "A CFD is a derivative that allows you to trade financial products much more efficiently: On margin, with lower capital investment, short or long, hedging your portfolio or just making the most of short term market movements in local or international shares, indices, currencies and commodities. The modern and intelligent way of trading any financial product."
Global Trader 247 has added significant skills to its Canadian office, with the appointments of Simon Grayson, Chief Executive Officer, Canada and Brent Johnston, Chief Operating Officer, Canada.
Simon started his career twelve years ago, trading fixed income products at James Capel, before moving to trade emerging markets at JP Morgan and later Chase Manhattan and Lehman Bros. Simon emigrated to Toronto in 2001.
Brent Johnston, a local Ontarian, was a senior investment adviser at CIBC Woodgundy, one of Canada`s largest retail brokerage institutions. Prior to this, Brent was securities advisor at RCOC Wealth Management in Toronto.
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