Forex International Trading Corp. Signs LOI To Acquire Up To 51% Of Proprietary Forex Software Company That Develops Online Trading Platforms

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.”