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. (
) 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).
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.
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