GAIN Capital Selling Securities Business to TradeKing
- US based online brokerage, TradeKing, has announced that it is acquiring GAIN Capital’s stock trading subsidiary, GAIN Capital Securities. Financial details of the deal were not disclosed.
US based online brokerage, TradeKing, has announced that it is acquiring GAIN Capital’s stock trading subsidiary, GAIN Capital Securities. Financial details of the deal were not disclosed. For TradeKing, the acquisition comes after they had merged with Zecco earlier this year to form what they called a “compelling alternative to the mega brokers”. Before today’s deal, the two firms had a previous relationship, with TradeKing’s Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term division being an introducing broker to GAIN Capital’s FOREX.Com brand. In addition to forex, TradeKing offers trading in stocks, options, and bonds.
In regards to GAIN Capital, the securities division was a small part of their business, and was headquartered in Cleveland, away from the company’s main New Jersey office. According to TradeKing, after the regulatory finalization of the deal, GAIN Securities customers will be moved to TradeKing’s Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, with commission decreases taking effect immediately. However, it was added as both GAIN and TradeKing use the same clearing partner, Apex Clearing Corporation, account numbers will remain the same. Customers will also have access to the TradeKing ‘Trader Network’. The Trader Network is the online brokers proprietary social trading network for clients to share trading ideas.
In a blog post on Trader Network, Don Montanaro, CEO of TradeKing Group welcomed GAIN Securities customers and added that the firm remains committed to taking on the ‘big boys’ as it steps up its consolidation efforts. He added “Having worked with GAIN Capital closely over the past several months to develop TradeKing’s Forex offering, this felt like a natural fit. We’re now working hard to finalize the sale officially within the next 30-60 days”.
Also commenting in the press statement, was Glenn Stevens, CEO of GAIN Capital “We sought to transition the GAIN Securities clients to a firm that shared our commitment to personalized 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.”
US based online brokerage, TradeKing, has announced that it is acquiring GAIN Capital’s stock trading subsidiary, GAIN Capital Securities. Financial details of the deal were not disclosed. For TradeKing, the acquisition comes after they had merged with Zecco earlier this year to form what they called a “compelling alternative to the mega brokers”. Before today’s deal, the two firms had a previous relationship, with TradeKing’s Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term division being an introducing broker to GAIN Capital’s FOREX.Com brand. In addition to forex, TradeKing offers trading in stocks, options, and bonds.
In regards to GAIN Capital, the securities division was a small part of their business, and was headquartered in Cleveland, away from the company’s main New Jersey office. According to TradeKing, after the regulatory finalization of the deal, GAIN Securities customers will be moved to TradeKing’s Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, with commission decreases taking effect immediately. However, it was added as both GAIN and TradeKing use the same clearing partner, Apex Clearing Corporation, account numbers will remain the same. Customers will also have access to the TradeKing ‘Trader Network’. The Trader Network is the online brokers proprietary social trading network for clients to share trading ideas.
In a blog post on Trader Network, Don Montanaro, CEO of TradeKing Group welcomed GAIN Securities customers and added that the firm remains committed to taking on the ‘big boys’ as it steps up its consolidation efforts. He added “Having worked with GAIN Capital closely over the past several months to develop TradeKing’s Forex offering, this felt like a natural fit. We’re now working hard to finalize the sale officially within the next 30-60 days”.
Also commenting in the press statement, was Glenn Stevens, CEO of GAIN Capital “We sought to transition the GAIN Securities clients to a firm that shared our commitment to personalized 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.”