Forex International Trading Corp. Signs LOI to Acquire up to 51% of Proprietary Forex Software Company That Develops Online Trading Platforms

NEW YORK--(BUSINESS WIRE)--Forex International Trading Corp (the "Company") (OTCBB: FXIT), a leading online provider of foreign exchange (FX) trading and related services, announced today that the company has entered into a Letter of Intent (“LOI”) to acquire 51% of ParagonEX.

ParagonEX is a software company that develops advanced online trading platforms. ParagonEX licenses its trading platforms to financial services companies around the world. ParagonEx is committed to pioneering the next generation of comprehensive, added-value solutions for Forex operators based on intimate industry experience and cutting-edge technologies.

ParagonEX is the software provider for Triple 8 Limited (“Triple”), which the Company owns approximately 50%. Triple utilizes the ParagonEX Trader which integrates advanced front and back office applications designed to support the entire dealing cycle, from sales and customer acquisition to reports and monitoring at all levels – from single user to overall performance data. The platform is tuned to the latest trends and core needs of Forex operators such as campaign management, compelling user experience and flexible content management system (CMS). Complying with the highest quality and regulatory requirements, the platform is also a fully hosted, hassle free “Software as a Service” (SaaS) solution requiring no IT capital investment.

ParagonEX’s software platform that is used by Triple has been well received by its target market customers. The platform has helped Triple 8 Limited experience triple digit growth when comparing our year to date results for 2011 to the same period in 2010. The versatility of the platform allows ParagonEX to expand its partnerships to additional financial services companies and other providers.

CEO of Forex International Trading, Darren Dunckel commented, “This is a real opportunity for our Company to become a major player in the trading platform business. We have been impressed with the capabilities this software has provided our Triple unit. The ability to trade in milliseconds and handle volatility spikes like we saw during the recent crises in Japan, while providing a user-friendly interface, should make the combined efforts of ParagonEX and Forex International Trading very competitive in the marketplace.”

The letter of intent for the most part is non-binding on the parties. The acquisition is subject to certain requirements including due diligence, execution of a mutually-acceptable definitive purchase agreement and various other customary conditions. Accordingly, no assurances can be made that the transaction will be consummated.

About ParagonEX:

ParagonEX is a provider of an advanced Forex trading platform for the online Forex industry. The company is committed to pioneering the next generation of comprehensive, added-value solutions for Forex operators based on intimate industry experience and cutting-edge technologies. One of ParagonEX’s products is the ParagonEX Trader which integrates advanced front and back office applications designed to support the entire dealing cycle, from sales and customer acquisition to reports and monitoring at all levels – from single user to overall performance data. The platform is tuned to the latest trends and core needs of Forex operators such as campaign management, compelling user experience and flexible content management system (CMS) to name but a few. Complying with the highest quality and regulatory requirements, the platform is also a fully hosted, hassle free “Software as a Service” (SaaS) solution requiring no IT capital investment. With all software updates and new features included, the platform is always up to date and accessible anywhere, any time.

About Forex International Trading Corp.

Headquartered in New York, NY, Forex International Trading Corp. operates an offshore advanced online trading platform for Forex markets to non U.S. residents. The Company focuses on providing individual and institutional investors with a platform for buying and selling currencies, precious metals and commodity futures. The company’s platforms allow self-directed, broker-assisted, and managed accounts. Through the platforms, 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 platforms.

For more information, please visit: http://www.forex-international-trading.com

Forward-Looking Statements: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others, whether Forex International Trading Corp. can successfully execute its operating plan; its ability to integrate acquired companies and technology; its ability to retain key employees; its ability to successfully combine product offerings and customer acceptance of combined products; general market conditions; and whether Forex International Trading Corp. can successfully develop new products and the degree to which these gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release. Forex International Trading Corp. does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.