Last August, TradeKing Group entered Into an agreement to acquire MB Trading.com, both U.S. brokerages. Up until then, TradeKing, an IB of Gain Capital had offered traders access to stocks, commodities, and futures. But they needed Forex to round out their investment offerings and the acquisition of MB Trading is part of TradeKing's mission to build a diversified financial services firm that fits the needs of every kind of client, from new investors to experienced traders.
California based MB Trading opened its doors to the public in 1999 and was the seventh largest Forex broker in the U.S., nabbing close to 3.3 % of the Forex market before giving up its NFA license on Monday. It was known for its award-winning trading platform but it, too, was looking for new avenues of growth. TraderKing presented that opportunity.
TradeKing will now offer its clients an opportunity to trade under the TradeKing Forex site in addition to stocks, ETFs, options, bonds, and futures.
The combined, post-acquisition firm will operate under the TradeKing brand with offices continuing in Fort Lauderdale, Florida; Charlotte, North Carolina; and El Segundo, California. The existing TradeKing management team will remain in their current roles with Steve Demarest and other key players from MB Trading joining the TradeKing team.
According to Don Montanaro, co-founder and CEO of TradeKing, "?TradeKing and MB Trading clients will have access to the best products, technology and services our two firms have to offer"¦"¦We intend to remain a consolidator in this space to ensure great products and technologies can continue to flourish under the TradeKing umbrella."
Steve Demarest, President of MB Trading said, "?We chose to enter into this agreement with TradeKing because our two firms share a very similar philosophy; that is to give our clients the very best tools, technology and pricing to put them in a position to win."