Bringing you live news and features since 2013
Bringing you news, views and analysis since 2013

6090

Gain Capital acquires MG Financial’s retail forex business

RELATED TOPICS​

Gain Capital, a provider of online trading services specialising in foreign exchange and contracts for difference, has reached an agreement to acquire certain assets of MG Financial’s US operations.

Under the agreement, MG Financial will transfer approximately 4,000 customers to Forex.com, the retail division of Gain Capital.

MG Financial has been offering online trading services since 1997. The announcement comes as a result of MG Financial’s decision to exit the retail forex industry and cease operations.

MG Financial’s management team intends to pursue other business opportunities in the financial services industry, but no formal plans have been announced.

"MG Financial is one of the oldest and most recognised names in the retail forex industry and has built a solid reputation by providing excellent service to its customers," says Glenn Stevens, chief executive of Gain Capital. "We will work closely with MG’s team to ensure a smooth transition for their customers, who will now have access to the robust offering available at Forex.com, including our expanded product suite, competitive dealing spreads, and comprehensive suite of trading tools, research and educational resources."

MG Financial’s customers were notified of the option to transfer their accounts to Forex.com on 1 September 2010. The transfer is scheduled to be completed on or about 13 September.

Latest News

According to the latest ESG data from PwC Luxembourg finds that investment flows towards EU..
Solactive and private equity data provider CEPRES have established a new partnership for to introduce..
New research published today by the CFA Institute Research and Policy Centre analyses the many..

Related Articles

Pension funds
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next decade, industry research reveals...
UK defined benefit (DB) pension plan sponsors could have access to GBP 1.2 trillion in surplus assets over the next..
Tim Crawmer, Payden & Rygel
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also, given that equities had a strong year last year, big funds have taken some chips off the table in equities and put them into fixed income...
Tim Crawmer and Frasat Shah of Payden & Rygel write that higher yields are attracting more demand from investors. Also,..
Lady justice
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI) strategies received glowing commendations from the Bank of England in its March report...
Top marks for the Pensions Regulator (TPR) whose efforts to improve resilience in the UK pension funds’ liability-driven investment (LDI)..
Pension funds
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are coming together to instigate a new industry coalition...
Four potential operators of pensions dashboards (Just Group, Legal & General, Moneyhub and Standard Life, part of Phoenix Group) are..
Subscribe to the Institutional Asset Manager newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by