GFT Launches New Company

July 17, 2006
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ADA — Global Forex Trading will introduce its new trading education company — the Strategic Trading Institute — at the Las Vegas Forex Trading Expo in September, and it has tapped CBS Morning News commentator, Hollywood personality and economist Ben Stein to do the honors.

Global Forex Trading offers real-time foreign currency exchange dealing, pricing and services for retail and institutional traders worldwide through its DealBook FX 2 trading software and 24-hour dealing desk. The company's new institute will provide education in online financial trading through live workshops, Web seminars and online training, said company spokesman Tim Gort. The institute was designed to create an environment where traders can come together and learn from fellow traders and market experts, and its debut at the second annual Las Vegas Forex Trading Expo will expose it to about 4,000 traders and a wide range of market leaders.

Gary Tilkin, president and CEO of both Global Forex Trading and the Strategic Trading Institute, said his company has had numerous requests from all levels and types of traders who are looking for a comprehensive education in trading methodologies that work — particularly from people who've received inadequate training in the past.

"We want to fill this void in the marketplace while also increasing the knowledge base and providing value to individuals who are well on their way to becoming successful traders," Tilkin explained. "Everyone benefits when traders are more informed and more prepared to trade the markets.

"Strategic Trading Institute will not only serve to educate traders, but more importantly, it will focus on active traders' unique needs in order to meet their trading goals in the world's currency markets and beyond.

At the expo, GFT's Strategic Trading Institute will introduce its Market Masters series of four educational workshops featuring four of the most accomplished experts in the trading industry. The presenters will address such topics as foreign exchange (forex) market analysis and trading psychology on Sept. 7 and 8.

Gort said the presenters are all independent traders contracted by GFT. The lineup includes: Doug Hirschhorn, a former Division I baseball player and CBOT (Chicago Board of Trade) floor trader; Larry Pesavento, an authority on Fibonacci trading techniques; Tom Joseph, a specialist in Elliot Wave principles and the creator of Dynamic Trend Profile; and Dave Floyd, a professional trader recognized for his trading signals and mentoring services for entry-level and intermediate-level traders.

The four-hour workshops will cost $500 per session and be limited to 90 participants each. More than 20 people pre-registered for the workshops within the first few days of the announcement, Gort said. Ben Stein's presentation, "The Two-Year Outlook of the U.S. Dollar," is free, and GFT will also offer three basic workshops for free that will serve as a prerequisite of sorts to the other workshops.

He said upcoming workshops and Web seminars will be conducted by a combination of outside experts and GFT's own staff. The workshops in Las Vegas will be recorded for Web seminars that will be available after the expo, he noted.

"Some of the workshops will be three days long, with the first two days covering education and learning, and the third day devoted to application where the participants can actually trade under the guidance of an instructor," he said. "Those courses run about $2,500, depending on the length."

In addition to the workshops and Web seminars, GFT's Strategic Trading Institute will offer a self-guided online trading course that allows an individual to walk through different course modules to gain a basic understanding of online trading and get started in the market. The next step would be a workshop or seminar, Gort said. He said the FX 360 online training course is currently in beta testing and should be ready for distribution in about a month.

The forex market is the largest financial market in the world, with an average of $1.9 trillion U.S. dollars traded daily. Comparatively, some $9 billion in bonds and $100 billion in stocks are traded daily.

At one time the forex market was only available to the wealthy or through the interbank market, but widespread use of the Internet and the development of trading software, such as DealBook FX 2, opened the market to average investors. According to GFT, the practice of trading currencies online tripled between 2002 and 2005 and is expected to continue growing. GFT grew more than 15,500 percent between 2000 and 2004, and Deloitte ranked it No. 16 among the 500 fastest growing technology companies in North America in 2005.

In related news, GFT opened a London subsidiary in mid-June. The new dealing desk serves traders, hedge funds and institutions in the United Kingdom, Europe, Australia, Asia and the Middle East. The company now deals spot forex trading to customers in 120 countries.   

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