The transaction will be completed in cash, however both parties have not disclosed financial terms of the agreement.
The GAIN Securities agreement follows TradeKing’s integration with online broker-dealer Zecco, which created a robust option to the "mega" brokers.
TradeKing Group CEO Don Montanaro said that through such deal, the company aims to bring greater stability to the independent investor market, while offering clients a modern and standout online and self-directed brokerage experience.
"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," Montanaro added.
GAIN Securities president Sherry Lavin commented, "It will mean access to more advanced trading tools and investor education resources, more options trading capabilities, and top-notch mobile apps."
An acquisition agreement has been filed by both firms with FINRA and it is most likely that a smooth approval process will conclude within 30-60 days.
Headquartered in Bedminster, New Jersey, GAIN Capital delivers online trading services globally and offers market access and automated trade execution services across multiple asset classes to a diverse client base of retail and institutional investors.
