This month Global Trader 247 opened its first "Euro-office" in Dublin. The move by SA`s first online spread trading company, is aimed targeting the spread trading-savvy Irish retail investor.
A South African born company, and the world`s leading spread trading company, Global Trader 247 has enjoyed considerable success in the South African market and currently executes up to 2 000 trades per day, from a local client base of 4 500.
Explaining the expansion to Ireland, Fleur Gremmen, CEO of Global Trader 247 says, "Ireland is the only English-speaking nation in the single currency eurozone and provides an ideal platform to launch Global Trader 247 into continental Europe. The Dublin office will also assume responsibility for the Group`s global risk management hub and is another step in providing our clients with a truly global offering."
Continues Gremmen: "The South African office has come of age - our client base, combined with the volume of trades we are executing, is testimony to this progression. We continue to strive to offer our clients the best service in SA and our roll-out into global markets will only further enhance this offering."
In the need to address the increase in local trading volumes, Global Trader 247 South Africa, has progressed its local operation. By the end of this quarter the Group will further its South African market penetration through wholesale partnerships with institutions, to which it will be able to offer a "one stop" CFD solution.
Online Contract For Difference (CFD) and equity futures trading are increasing in popularity, particularly with retail investors in Europe and the US. During the recent volatile bear markets, investors have shown an increased preference for the Spread Trading model, which allows investors to take positions for short term movements at low costs, rather than being tied to long term positions at high costs. This combined with scandals in the equity markets, has lead to a substantial increase in execution only, CFD trading, from which Global Trader 247 has benefited.
Says Gremmen: "Global Trader 247 has the unique advantage of having been spared the heritage of any legacy systems and consequently developed the world`s best online Spread Trading platform without sacrificing Client service and risk management. This strength in our systems will allow Global Trader 247 to further capture new markets and role out its operations at significant speed."
Spread trading allows investors to aggressively trade many international and domestic markets such as the Dow Jones, the FTSE and the Nasdaq, by placing minimal margins. Whether you are trading stock indices, currencies, commodities or individual shares, spread trading exposes investors to the change in value of an asset without owning the asset. Investors can take a position on whether they think a certain share, index, interest rate or commodity will appreciate or depreciate over time, and are able to execute this view by going either long (buying) or short (selling) that asset.
Global Trader 247 provides investors with live Reuters news articles, free market "alert" levels on email and SMS, and extended trading hours. It is, in effect, a slimmed down version of a professional trader`s workstation.
David Butler (Chairman), Fleur Gremmen (CEO), Mark Wurr (Head Trader), Andrea Marani (Finance Director) and Ryan Miller (Junior Trader) have relocated from Johannesburg to Dublin, Ireland, to ensure consistency and familiarity across the Global Trader 247 offering, whilst in addition to a core team based in Johannesburg, many new staff have been recruited.
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