Forex.com
Forex.com is a global foreign-exchange and contracts-for-difference trading brand operated by GAIN Capital, part of StoneX Group.
Last updated August 31, 2026
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Overview
Forex.com is a retail and professional online trading brand focused primarily on foreign exchange, contracts for difference (CFDs), and other leveraged financial products. The brand is operated by GAIN Capital Holdings, which became part of StoneX Group Inc. following StoneX's acquisition of GAIN Capital in 2020. StoneX is a publicly traded financial-services company listed on Nasdaq under the ticker SNEX. GAIN Capital was founded in 1999 by Mark Galant, and it introduced the Forex.com brand in 2004 to serve retail foreign-exchange traders. The business expanded from its original North American focus through a series of international launches, acquisitions, regulatory registrations, and partnerships. In 2008, GAIN acquired a United Kingdom broker regulated by the then Financial Services Authority and subsequently developed Forex.com UK. The brand began operating in the United Kingdom and continental Europe in 2009. During that period, GAIN also expanded into Japan, Hong Kong, and other Asia-Pacific markets, using acquisitions and local partnerships to establish regulated operations. The company's acquisition strategy added both customers and trading infrastructure. In 2011, GAIN acquired dbFX from Deutsche Bank, bringing approximately 1,650 clients and reported client assets of about $55 million. In 2013, it purchased Sydney-based Global Futures, increasing combined client assets to more than $650 million according to the cited reference material. The Japanese operation later took over the client base of Planex Trade FX in 2014. GAIN also agreed to acquire City Index in 2014 and completed that transaction in 2015, broadening its international brokerage portfolio. Forex.com's offering has included leveraged trading in currency pairs, commodities, indices, cryptocurrencies, and other CFD markets, subject to the rules of the relevant jurisdiction. The brand has operated through entities regulated by authorities including the U.S. Commodity Futures Trading Commission and National Futures Association, the United Kingdom's Financial Conduct Authority, Australia's Australian Securities and Investments Commission, Japan's Financial Services Agency, Canada's investment-industry regulator, and Hong Kong's Securities and Futures Commission. Products, leverage, client protections, and available markets differ by country. The brand entered cryptocurrency trading in 2018, initially offering selected digital assets such as Bitcoin Cash, Ethereum, Litecoin, and Ripple to eligible clients in the United Kingdom, Europe, Australia, and Singapore. More recently, it has introduced automated trading capabilities, expanded CFD market coverage in Canada, and developed additional regulated-market presence. In 2025, the brand announced operations in Singapore, expanded its Capitalise.ai partnership to the European Union and United Kingdom, and introduced round-the-clock cryptocurrency CFD trading according to the supplied reference material. StoneX also began consolidating some regional retail-trading activities under the Forex.com name, including an Australian rebrand of City Index operations. Forex.com has faced regulatory criticism and litigation over supervision, execution practices, client onboarding, data security, and platform incidents. Notable matters include a 2010 National Futures Association fine involving slippage and margin-handling practices, a 2022 penalty related to a 2021 stale-quote incident, a 2020 data breach affecting the Japanese business, and patent litigation involving OANDA that was settled in 2026 according to the supplied material. These matters form part of the brand's operating history but do not indicate that the brand is defunct. Forex.com remains an active international trading brand within StoneX's broader financial-services group.
History
Forex.com's history is closely linked to GAIN Capital, the financial-services company that created the brand. GAIN Capital was founded in 1999 by Mark Galant and initially developed technology and brokerage services for foreign-exchange trading. In 2004, it launched Forex.com as a retail-facing brand, giving individual traders access to online currency markets and leveraged products. International growth followed through a combination of regulated subsidiaries, acquisitions, and local partnerships. In 2008, GAIN acquired a United Kingdom broker regulated by the Financial Services Authority and used that platform to establish Forex.com UK. The business expanded across the United Kingdom and continental Europe in 2009. The supplied reference material states that monthly trading volume was approaching $200 billion by that stage. GAIN entered Japan in 2009 through the acquisition of Fortune Capital, opened a Hong Kong office in 2010, and partnered with Polaris Securities. These moves established a presence spanning North America, Europe, and the Asia-Pacific region. The company continued to add clients and capabilities through acquisitions. In 2011, GAIN purchased dbFX from Deutsche Bank, adding approximately 1,650 clients and about $55 million in assets. In 2013, it acquired Sydney-based Global Futures; the combined client-asset base was reported as exceeding $650 million. In 2014, the Japanese division assumed the client base of Planex Trade FX. GAIN also agreed in October 2014 to acquire City Index, a UK-based brokerage group, and completed the transaction in March 2015. The acquisition strengthened GAIN's international brokerage portfolio and expanded the range of trading brands and regulated entities associated with the group. The business encountered market and regulatory pressures during this period. Following the removal of the Swiss franc exchange-rate cap in January 2015, GAIN announced that it would reset accounts that had fallen into negative balances. In 2017, it took over more than 47,000 U.S. retail accounts from FXCM after FXCM reached a regulatory settlement with the Commodity Futures Trading Commission. The transfer added approximately $142 million in client assets according to the supplied reference material. Forex.com broadened beyond traditional currency pairs in 2018, when it introduced cryptocurrency trading for eligible clients in the United Kingdom, Europe, Australia, and Singapore. Supported assets included Ethereum, Litecoin, Ripple, and Bitcoin Cash. The brand has also offered leveraged exposure to commodities, stock-market indices, and other CFD instruments, although product availability and leverage vary according to local regulation. StoneX Group acquired GAIN Capital in 2020 for a reported $236 million. After the transaction, Forex.com became part of StoneX's publicly traded financial-services group. The combined organization continued to operate the brand through multiple jurisdiction-specific entities. In 2021, Forex.com obtained a Cayman Islands license and expanded toward Latin American clients. In Canada, it later expanded its listed CFD markets to more than 2,500 and introduced automated-trading capabilities for U.S. clients through Capitalise.ai. The brand's recent development has emphasized geographic coverage, technology, and consolidation. In 2025, Forex.com entered Singapore, expanded its Capitalise.ai relationship to clients in the European Union and United Kingdom, and introduced 24/7 cryptocurrency CFD trading according to the supplied reference material. StoneX also rebranded its Australian City Index retail operations as Forex.com in August 2025 and used the brand for its broader Australian launch. A Dubai Capital Market Authority license obtained in 2025 was described as supporting expansion in the Middle East. In January 2026, GAIN Capital UK said it intended to surrender its FCA authorization, while StoneX indicated that its UK-regulated StoneX Financial entity would continue operating Forex.com in the United Kingdom. The brand has also been involved in regulatory enforcement, litigation, and operational incidents. A 2010 NFA action concerned alleged unfair slippage practices, margin handling, and supervision. Other matters involved onboarding U.S. customers through a UK entity and weaknesses in supervision. In March 2021, stale quotations for 14 currency pairs appeared for more than ten hours, producing trades at outdated prices; the company reversed approximately $2.84 million in client gains and made smaller adjustments to other accounts. The NFA fined the company $700,000 in 2022 over its handling of the incident and related compliance issues. Separate legal disputes included litigation concerning the Cameron Farley alleged fraud, a claim arising from negative WTI pricing in 2020, and patent litigation brought by OANDA. The OANDA dispute was settled in February 2026 with the claims and counterclaims dismissed with prejudice, according to the supplied reference material.
- 2025
Singapore launch and regional technology expansion
[1]Forex.com launched operations in Singapore and expanded its Capitalise.ai automated-trading partnership to European Union and UK clients.
- 2025
Australian rebrand and 24/7 crypto CFDs
[1]StoneX consolidated Australian retail trading under Forex.com and introduced 24/7 cryptocurrency CFD trading.
- 2022
Canadian CFD market expansion
[1]The Canadian offering expanded to more than 2,500 CFD markets.
- 2021
Cayman Islands license and Latin American expansion
[1]Forex.com obtained a Cayman Islands license and expanded its international reach toward Latin America.
- 2020
StoneX acquires GAIN Capital
[1]GAIN Capital became a subsidiary of StoneX Group, bringing Forex.com into the StoneX group of financial brands.
- 2018
Cryptocurrency trading introduced
[1]Forex.com began offering selected cryptocurrency trading products in multiple international markets.
- 2015
City Index acquisition completed
[1]GAIN completed its acquisition of City Index, broadening its international brokerage operations.
- 2014
Planex Trade FX client-base transfer
[1]The Japanese division took over the client base of Planex Trade FX.
- 2013
Global Futures acquisition
[1]The acquisition of Sydney-based Global Futures expanded the company's Australian business and increased combined client assets.
- 2011
dbFX acquisition
[1]GAIN acquired dbFX from Deutsche Bank, adding approximately 1,650 clients and about $55 million in assets.
Products and positioning
A regulated, internationally distributed online trading brand positioned around access to foreign exchange, leveraged CFDs, multi-asset markets, and trading technology for retail and professional clients.
Foreign-exchange brokerage · 2004
Forex.com FX trading
The core Forex.com service provides online trading in currency pairs through jurisdiction-specific regulated entities. The service is designed for retail and professional clients and may include leveraged positions, charting, execution tools, market information, and account-management functions. Available currency pairs, leverage, minimum requirements, and client protections depend on the customer's country and the applicable regulator.
Contracts for difference
Forex.com CFD markets
Forex.com offers contracts for difference and other leveraged market products where permitted. The range has included commodities, equity indices, currencies, and other financial instruments. CFD availability is not uniform globally: local rules determine whether retail clients can access a product, how leverage is limited, and whether particular instruments can be offered.
Cryptocurrency CFDs and trading · 2018
Cryptocurrency trading
Forex.com entered cryptocurrency markets in 2018 with products linked to assets including Bitcoin Cash, Ethereum, Litecoin, and Ripple. The brand later introduced 24/7 cryptocurrency CFD trading according to the supplied reference material. Crypto products are subject to jurisdictional restrictions, product-specific risks, and the availability policies of the relevant Forex.com entity.
Automated trading technology · 2022
Capitalise.ai integration
Through its partnership with Capitalise.ai, Forex.com has offered automated trading functionality that allows eligible clients to create rule-based trading instructions using a technology interface rather than manually placing every order. The feature was introduced for U.S. clients and later extended to additional markets, including the European Union and United Kingdom.
Controversies
2023
Former executive insider-trading settlement
Former GAIN Capital executive Joseph Conlan settled U.S. Securities and Exchange Commission charges concerning profits made from nonpublic information about StoneX's acquisition of GAIN Capital. The settlement included disgorgement and penalties totaling $159,389.
2022
NFA penalty related to stale-quote incident
The NFA imposed a $700,000 fine over the handling of the 2021 system incident, related rule violations, and communications with regulators.
2021
Stale-quote system incident
A system error caused outdated prices for 14 currency pairs to remain visible for more than ten hours. Trades at stale prices created account imbalances, and the company reversed approximately $2.84 million in client gains while making smaller account adjustments.
2021
OANDA patent litigation
OANDA brought patent-infringement claims against GAIN Capital concerning technology related to price quotation and trade execution. A separate federal court ruling in 2024 rejected asserted claims against StoneX as insufficiently inventive, while the New Jersey litigation continued until a settlement in February 2026.
2020
WTI pricing lawsuit
A Chinese trader sued GAIN Capital after losses associated with negative WTI futures pricing and a platform halt before the close of U.S. crude-oil trading in April 2020.
2020
Japanese client-data breach
Forex.com's Japanese unit suffered a breach in which client personal information was exposed to an unauthorized third party.
2013
Cameron Farley litigation
UK investors sued GAIN Capital, alleging that Forex.com enabled trading for Cameron Farley Ltd., an unlicensed intermediary accused of operating a Ponzi scheme. The allegations concerned due diligence and whether the brokerage indirectly facilitated the alleged fraud.
2010
National Futures Association enforcement over trading practices
The NFA fined GAIN Capital $459,000 in connection with alleged unfair slippage practices, margin handling, and supervisory deficiencies.
Brand decisions
2025
Consolidate regional retail brands under Forex.comStrategyBackground
StoneX sought to simplify its retail-trading brand structure across selected markets.
Action taken
StoneX rebranded its Australian City Index retail operation as Forex.com and launched the consolidated brand in Australia.
Aftermath
The move increased the role of Forex.com as StoneX's unified international retail-trading identity in selected jurisdictions.
2025
Introduce 24/7 cryptocurrency CFD tradingProduct launchBackground
Cryptocurrency markets operate continuously, creating demand for trading access outside conventional market hours.
Action taken
Forex.com introduced round-the-clock trading in supported cryptocurrency CFDs.
Aftermath
The offering expanded the brand's digital-asset trading hours, subject to product and jurisdictional conditions.
2022
Expand automated trading capabilitiesStrategyBackground
Retail traders increasingly sought rule-based and automation-assisted trading tools.
Action taken
Forex.com launched automated trading capabilities for U.S. clients through a partnership with Capitalise.ai.
Aftermath
The partnership was subsequently expanded to clients in the European Union and United Kingdom.
2020
Join StoneX GroupM&ABackground
GAIN Capital sought to combine with a larger financial-services group with broader institutional and international capabilities.
Action taken
StoneX acquired GAIN Capital in a transaction reported at $236 million.
Aftermath
Forex.com became part of StoneX's publicly traded group and continued operating through multiple regulated entities.
Reported acquisition value. $236 million (2020)
2018
Enter cryptocurrency marketsProduct launchBackground
Digital-asset trading was becoming an additional product category for online leveraged-trading platforms.
Action taken
Forex.com introduced trading in selected cryptocurrencies for eligible clients in the UK, Europe, Australia, and Singapore.
Aftermath
Cryptocurrency products became part of the brand's broader multi-asset offering and were later extended through additional crypto CFD features.
Recent events
FOREX.com launches overnight Japan Stock CFDs and Knock-Out Options[2]
Reported:
FOREX.com, operated by StoneX Securities Co., Ltd., a wholly owned subsidiary of StoneX Group Inc., announced the launch of Japan Stock CFDs and Japan Stock CFD Knock-Out Options, becoming the first and only trading platform in Japan to offer overnight trading of these products until 5:00am JST.
Sources2 sources
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