Standard Bank Group gives customers Forex option

Jun 10, 2010

Standard Bank Group has become the first financial institution in South Africa to offer its customers the ability to trade on foreign currency markets.

The firm has partnered with Gain Capital Holdings to launch Standard FX Trader, which will let clients buy and sell 38 of the world's major currencies, along with gold and silver. It will also offer them advice for getting the most out of their investments. Standard Bank, which is the largest banking group in the country in terms of assets and earnings, said its aim is to give South Africans the chance to trade through a "trusted provider".

"We are delighted to be able to work with Gain Capital to extend our existing suite of electronic Forex offerings by providing a new offering to our retail customers," remarked Director and Head of Foreign Exchange at Standard Bank Richard de Roos. The Group has been operating in South Africa for over 140 years and also has a presence in 17 African nations, including Kenya and Nigeria.