TradeKing Group Inc., an innovator in the online brokerage industry, announced today it has received approval from FINRA to acquire the assets of GAIN Securities, Inc., a subsidiary of GAIN Capital Holdings, Inc. (NYSE: GCAP). With the regulatory agency’s approval now secured, TradeKing anticipates it will have the GAIN Securities clients fully transitioned to its brokerage firm by early October.
“We’re delighted to have secured FINRA approval and now can begin the process of delivering on what we’ve promised the GAIN Securities clients – an outstanding brokerage experience at a tremendous value,” said TradeKing Group CEO Don Montanaro. “There are a number of features in our offering, including a vast array of trading tools and top-notch mobile apps, that will represent a significant improvement for these clients, so we’re eager to make those features and more available to them.”
TradeKing first announced its agreement to acquire the accounts as well as the rights to certain other assets of GAIN Securities in July 2013. Exact financial terms of the all-cash acquisition were not disclosed.
“The professionals at GAIN Securities have been terrific partners in this process, making every effort to ensure a smooth and easy transition for clients,” said David Dusseault, TradeKing’s Vice President of Client Services and Brokerage Operations. “We are all committed to providing the very best experience for these clients with the goal of exceeding their expectations every step of the way.”About TradeKing Group, Inc.TradeKing Group, Inc. ( www.tradeking.com) consists of companies that provide online brokerage services, social communities for investors, investor education and more. Its subsidiary, TradeKing, is a nationally licensed online broker/dealer dedicated to empowering the independent, self- directed investor. It offers simple, low flat fees ($4.95 per trade for both equity and option trades with $0.65 per options contract). 1 The TradeKing platform features powerful online equity, options, ETF, mutual fund and fixed-income trading tools accompanied by a rich set of news, research and analysis capabilities. Follow TradeKing on Twitter at http://twitter.com/TradeKing,Facebook at http://www.facebook.com/tradeking,YouTube at http://www.youtube.com/tradeking,LinkedIn at http://www.linkedin.com/company/tradeking,Google+ at https://plus.google.com/+tradeking/posts. 1 Please see www.tradeking.com/rates for more details on trade commissions for low priced stock, bonds, mutual funds and other securities. Options involve risk and are not suitable for all investors. For more information, please review the Characteristics and Risks of Standard Options brochure at www.tradeking.com/odd before you begin trading options. Options investors may lose the entire amount of their investment in a relatively short period of time. $4.95 for online equity and option trades, add 65 cents per option contract. TradeKing charges an additional $0.35 per contract on certain index products where the exchange charges fees. See our FAQ for details. TradeKing adds $0.01 per share on the entire order for stocks priced less than $2.00. See our Commissions and Fees page for commissions on broker-assisted trades, low-priced stocks, option spreads, and other securities. Online trading has inherent risks due to system response and access times that vary due to market conditions, system performance and other factors. An investor should understand these and additional risks before trading.