Sarasota, FL 3/31/2008 8:32:39 PM
Finotec Group (OTCBB: FTGI) Suppling the Infrastructure
Pennycents Magazine: Americans losing out in overseas travel
Pennycents Magazine, the market’s most valuable research tool covering micro-cap, penny stocks and otcbb equities, issued the following daily column by Dan Blacharski.
The weak dollar is hitting home here at the Blacharski household, as we prepare for our two-month trip to Asia next week. On my first trip to Thailand some years ago, I got 40 Thai baht to the dollar. And going into the People’s Democratic Republic of Laos, my handful of greenbacks bought me so many Lao gip that I couldn’t fit it in my wallet. Today, an American bill will get me only 31 baht, and I’ll have to pay a little more for my khao pad goong as a result. And we wonder why the picture on the dollar bill shows Washington frowning.
I admire people who play in the forex market, I really do, although I’ve always been hesitant to go there myself. For those who are brave enough to speculate in those choppy waters, there are enormous profits to be made. For me, it’s a bit too fast-paced—some forex traders execute their buy and sell cycle within seconds.
In my opinion, the big money in forex is being made by those who are supplying the infrastructure, rather than doing the trading themselves—much like the Gold Rush days when the sellers of pickaxes and shovels, restaurateurs, and purveyors of laundry services made more money, on average, than the prospectors themselves. Nonetheless, forex has become quite popular and there are more forex traders than ever.
A small company called Finotec Group (OTCBB: FTGI) is just such a company. The online forex company, regulated by the FSA in the United Kingdom, just this week released its enhanced White Label solution for financial institutions. This platform, which is sold to financial institutions and online trading firms, is designed to be used by firms wanting to move retail forex trading operations online. Finotec’s brokerage firm also offers the Forexcash trading platform, which offers electronic forex trading online.
For an over-the-counter company, Finotec sees heavy trading volume compared with many penny stocks, and has a market cap of about $49 million. Last month, the company received regulatory approval to offer cross-border investment services in multiple European countries from its UK office, a win that will help to expand its base of clients globally.
The writer does not own shares in the above stocks.
Subscribe to Pennycents Magazine ($9.95 yr)About Pennycents Magazine
Pennycents Magazine, along with the Pennycents.com web site, features information on up-and-coming micro-cap, and penny stock companies listed on the OTCBB and Pink Sheets, as well as commentary on the factors that influence the market. As a totally unbiased penny stock information platform, Pennycents does not accept payment from the companies mentioned in its articles or columns. Neither Pennycents, nor its staff or writers, are allowed to invest in companies featured in the magazine. You can have Pennycents mailed to your door or learn more by visiting its website at http://www.pennycents.com.
PC Capital Holdings, LLC (Pennycents) believes the information contained herein to be accurate and reliable as of the issue publication date. The information contained herein is not guaranteed or warranted by Pennycents to be accurate, and should not be considered to be all-inclusive. The companies that are written about in Pennycents have not approved the statements made in this disclaimer. Information contained herein may contain forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or a solicitation of an offer to buy or sell securities. Pennycents is a magazine and not a licensed broker, broker/dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a licensed broker before purchasing or selling any securities viewed on http://www.pennycents.com or mentioned herein.
