ECDC, BMOD, RCMH, BIHI, EGCT, EXCX, CLNH
February 17, 2011
Today we focus the StockGuru Spotlight on a web-based foreign currency trading platform to non-US residents, professionals and retail clients. This web-based Company is firmly entrenched in an expanding market and is in the process of applying for expansion approval with the Financial Services Authority. We believe this approval, it given, will significantly expand the revenue base of FXIT, a $54M market cap Company. The chart reflects a company in strong acceleration mode. You may want to do more than watch this Company.
OTCBB: FXIT – Market Cap $54 million
Forex International Trading Corp. (OTCBB: FXIT) offers a web-based foreign currency trading platform to non-US residents, professionals and retail clients, together with a third party. Recently, in its growth push the Company entered a Letter of Intent (“LOI”) to acquire up to 40.1% equity interest in Nexus Capital Ltd. (“Nexus”), a U.K. regulated investment advisory firm specializing in contracts for difference (“CFD”), foreign exchange, spread trading and share dealing. In addition, the LOI provides that Lanatech Limited (an unrelated third party) may acquire up to 9.9% equity interest in Nexus.
In recent years, CFDs have grown in global appeal to retail investors as an investment vehicle that allows for the small investor to put less capital at risk to participate in movements in larger blocks of securities. Similar to its strategy in the Forex market, the Company is seeking global exposure (non-US residents) to the CFD market, where retail investors overseas are increasingly finding this an attractive method to invest.
A presence in the CFD markets overseas provided international clients the ability to trade forex and contracts for difference. The review process by the Financial Services Authority is anticipated to take approximately 45 to 60 days. U.S. residents represent 75% of online currency trading. The Company currently accepts only non U.S. clients. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures. This platform allows self-directed, broker-assisted, managed accounts and accumulation programs. Through the platform, customers have access to over 20 currencies and bullion deliveries. The Foreign Currency Market (“Forex” or “FX”) is created by the global exchange of currencies. According to the Bank for International Settlements, the average daily turnover, or, volume in the Global FX market in April 2010 was $4 Trillion compared to only $1.2 Trillion in 2001 (Wall Street Journal, Sept. 1, 2010). Historically, access to the FX market was only available to governments, commercial banks, corporations, and other large financial institutions. The Company is now capitalizing on the growth of online currency trading through its state of the art web-based trading platform.
StockGuru Spotlight Winners as of Tuesday, February 16, 2011’s Close.
|Pick Date||Pick Price||Symbol||High||Up||Mkt Cap|
|January 4, 2011||$ 0.35||NTLK||$ 1.31||274%||$16.28M|
|January 19, 2011||$ 0.22||TSNI||$ 0.72||227%||13.00M|
|December 16, 2010||$ 0.03||NAEY||$ 0.10||210%||$1.67M|
|December 7, 2010||$ 1.28||SPLM||$ 3.34||161%||$156.43M|
|October 21, 2010||$ 2.54||MITK||$ 5.52||117%||$101.10M|
|December 22, 2010||$ 0.24||DLYT||$ 0.49||104%||$15.00M|
|January 6, 2011||$ 2.35||ENTB||$ 4.00||70%||$78.74|
|October 29, 2010||$ 0.15||CNYC||$ 0.25||66%||$195.75K Tiny Mkt Cap|
|January 6, 2011||$ 0.35||FXIT||$ 0.52||49%||$54.11|
|November 24, 2010||$ 0.24||GNRG||$ 0.33||38%||$6.42|
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