The digital brokerage company, GCEX Group, has launched round-the-clock forex trading for its institutional and professional clients.
GCEX announced the launch of 24/7 forex trading on Wednesday in a statement shared with Finance Magnates.
The online broker noted that the non-stop forex trading service is mirrored after its round-the-clock crypto trading service.
Lars Holst, the Chief Executive Officer of GCEX, explained that it is the industry standard for forex trading to be halted during the weekends, but GCEX believes that it shouldn't.
“This is a significant announcement and another example of how GCEX is pushing boundaries and leading the way,” Holst said.
Speaking further, Holst noted that preparing to offer 24/7 forex trading on GCEX was easy as the broker was used to providing a top service during weekends.
He added that GCEX already offering all hours for crypto trading was another factor.
“If people are using credit cards at the weekend, for example, why should the payment providers have to wait until Monday morning to settle the transactions?” Holst said.
Growth Moves
GCEX is regulated by the Financial Conduct Authority in the UK and the Danish Financial Supervisory Authority.
Last month, the company, which posted a profit of £1.42m in its first full-year financials for 2021, got two Danish licenses to expand its operations in the European Union.
Recently, GCEX announced expansion into the Middle East and North Africa (MENA) region with the opening of a Dubai office.
The company also appointed Mehtap Önder as the Managing Director for GCEX MENA.
“From working closely with Lars at CFH (now Finalto), I have witnessed first-hand his ability to grow a global business,” Önder said in a statement.
“I am excited to be joining his team and working closely with him to scale GCEX across the MENA region.”
