TradeKing Group, Inc., an innovator in the online brokerage industry,
announced today it has reached an agreement with GAIN Capital Securities
Inc. to acquire the accounts as well as the rights to certain other
assets of the Cleveland-based boutique brokerage, which is a subsidiary
of GAIN Capital Holdings, Inc. (NYSE:
GCAP). Exact financial terms of the all-cash acquisition were not
The GAIN Securities agreement comes just months after TradeKing’s merger
with online broker-dealer Zecco, the integration of which created a
compelling alternative to the “mega” brokers. TradeKing and GAIN
Securities share the same clearing partner, ensuring a smooth and
“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,” said 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.”
Commenting on the agreement, Glenn Stevens, CEO of GAIN Capital said,
“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
TradeKing and GAIN Securities have filed the acquisition agreement for
approval with FINRA and anticipate a smooth approval process, which
could conclude within 30-60 days.
“I’m excited about the benefits our clients will see in transitioning to
the TradeKing platform,” said Sherry Lavin, President of GAIN
Securities. “It will mean access to more advanced trading tools and
investor education resources, more options trading capabilities, and
top-notch mobile apps. This is a win for GAIN Securities clients.”
Added David Dusseault, TradeKing’s Vice President of Client Services and
Brokerage Operations and the executive leading the acquisition process
for TradeKing: “GAIN Securities is an organization that always puts its
clients first. We look forward to working closely with Sherry and her
team to meet and exceed the expectations of GAIN’s brokerage clients.”
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, LLC 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.
About GAIN Capital
GAIN Capital Holdings, Inc. (NYSE:GCAP) is a global provider of online
trading services. GAIN's innovative trading technology provides market
access and highly automated trade execution services across multiple
asset classes to a diverse client base of retail and institutional
GAIN's businesses include FOREX.com, which provides retail traders
around the world access to a variety of global OTC financial markets,
including forex, precious metals and CFDs on commodities and indices;
GTX, a fully independent FX ECN for hedge funds and institutions; and
OEC, an innovative online futures broker.
GAIN Capital is headquartered in Bedminster, New Jersey, with a global
presence across North America, Europe and the Asia Pacific regions. For
company information, visit www.gaincapital.com.
Follow TradeKing on Twitter at http://twitter.com/TradeKing,
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.
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
$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.
Investors should consider carefully information contained in Exchange
Traded Fund (ETF) and Mutual Fund prospectuses, including investment
objectives, risks, charges and expenses. You can request a prospectus by
calling TradeKing at 877-495-5464 or by visiting TradeKing.com. Please
read the prospectus carefully before investing. Investment returns will
fluctuate and are subject to market volatility so that an investor's
shares, when redeemed or sold, may be worth more or less than their
original cost. Unlike mutual funds, shares of ETFs are not individually
redeemable directly with the ETF. Some specialized exchange-traded funds
can be subject to additional market risks.
TradeKing's Fixed Income platform is provided by Knight BondPoint, Inc.
All bids (offers) submitted on the Knight BondPoint platform are limit
orders and if executed will only be executed against offers (bids) on
the Knight BondPoint platform. Knight BondPoint does not route orders to
any other venue for the purpose of order handling and execution. The
information is obtained from sources believed to be reliable; however,
its accuracy or completeness is not guaranteed. Information and products
are provided on a best-efforts agency basis only. Please read the full Fixed
Income Terms and Conditions. Fixed-income investments are subject to
various risks including changes in interest rates, credit quality,
market valuations, liquidity, prepayments, early redemption, corporate
events, tax ramifications and other factors.
TradeKing provides self-directed investors with discount brokerage
services, and does not make recommendations or offer investment,
financial, legal or tax advice. The content of this press release is
provided for educational and informational purposes only, does not
constitute a recommendation to enter in any of the securities
transactions or to engage in any of the investment strategies presented
herein, and does not represent the opinions of TradeKing or its
Content, research, tools, and stock or option symbols are for
educational and illustrative purposes only and do not imply a
recommendation or solicitation to buy or sell a particular security or
to engage in any particular investment strategy. The projections or
other information regarding the likelihood of various investment
outcomes are hypothetical in nature, are not guaranteed for accuracy or
completeness, do not reflect actual investment results and are not
guarantees of future results.
Foreign exchange trading (Forex) is offered to self-directed investors
through TradeKing Forex. TradeKing Forex, Inc and TradeKing, LLC are
separate, but affiliated companies. Forex accounts are not protected by
the Securities Investor Protection Corp. (SIPC).
Forex trading involves significant risk of loss and is not suitable for
all investors. Increasing leverage increases risk. Before deciding to
trade forex, you should carefully consider your financial objectives,
level of investing experience, and ability to take financial risk. Any
opinions, news, research, analyses, prices or other information
contained does not constitute investment advice. Read the full disclosure.
Please note that spot gold and silver contracts are not subject to
regulation under the U.S. Commodity Exchange Act.
TradeKing Forex, Inc acts as an introducing broker to GAIN Capital
Group, LLC ("GAIN Capital"). Your forex account is held and maintained
at GAIN Capital who serves as the clearing agent and counterparty to
your trades. GAIN Capital is registered with the Commodity Futures
Trading Commission (CFTC) and is a member of the National Futures
Association (NFA) (ID # 0339826). TradeKing Forex, Inc. is a member of
the National Futures Association (ID # 0408077).
TradeKing Group, Inc. is not a broker/dealer.
© 2013 TradeKing Group, Inc. All rights reserved. Securities offered
through TradeKing.com are offered through TradeKing, LLC, member FINRA
and SIPC. Forex offered through
TradeKing Forex, Inc., member NFA.