Online brokerage TradeKing Group, Inc. today announced that its acquisition of MB Trading has officially closed.
This acquisition further expands the scope of TradeKing’s services as the company continues to build a diversified financial services firm to respond to the needs of various types of traders and investors.
For the time being, both TradeKing Securities and MB Trading will operate as separate brokerage offerings under the TradeKing Group umbrella.
Meanwhile, MB Trading said it stopped directly supporting Forex trading on Friday, October 23, 2015. The company has had its status as Retail Foreign Exchange Dealer (RFED) and Forex Dealer Member (FDM) of the National Futures Association (NFA) withdrawn on Thursday, November 5th.
Don Montanaro, co-founder and CEO of TradeKing, said,
“We have long admired the active trading software MB has built and are excited to take the best of both firms’ technology, products and services to continue to improve the trading experience for all of our clients. We look forward to welcoming our new MB Trading clients and demonstrating our commitment to their trading success.”
Steve Demarest, President of MB Trading, said:
“I’m excited for MB Trading clients to soon also have access to the TradeKing LIVE web-based active trader experience, where they’ll enjoy TradeKing’s award-winning customer support and top-tier research, as well as the TradeKing Advisors online advisory offerings”.
More details about the deal can be found by visiting this informational microsite.
You can view the official announcement from Tradeking by clicking here.