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Glenn Stevens, chief executive officer of Gain Capital

TradeKing to acquire assets of GAIN Capital Holdings’ brokerage subsidiary

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TradeKing Group has reached an agreement to acquire the accounts and the rights to certain other assets of GAIN Capital Holding’s boutique brokerage subsidiary GAIN Capital Securities.

 
Exact financial terms of the all-cash acquisition have not been disclosed.
 
The GAIN Securities agreement comes just months after TradeKing’s merger with online broker-dealer Zecco, the integration of which created an alternative to the “mega” brokers. TradeKing and GAIN Securities share the same clearing partner, ensuring a smooth and straightforward transition.
 
“We see an opportunity in today’s environment to bring greater stability to the independent investor market through this type of consolidation, while offering clients a modern and standout online and self-directed brokerage experience,” says Don Montanaro, CEO of TradeKing Group. “We really can’t wait to show the GAIN Securities clients all that TradeKing has to offer in terms of trading tools and platform as well as our award-winning service – all for a value we know they’ll appreciate.”
 
Glenn Stevens (pictured), CEO of GAIN Capital, says: “We sought to transition the GAIN Securities clients to a firm that shared our commitment to personalised service, innovation and building client trust. As TradeKing’s forex provider, we’re already very familiar with the TradeKing team and offering and knew they would be the ideal firm to deliver on that commitment. Our clients will be in good hands with TradeKing.”
 
TradeKing and GAIN Securities have filed the acquisition agreement for approval with FINRA and anticipate a smooth approval process, which could conclude within 30 to 60 days.
 

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