GAIN Capital Holdings, Inc., a global provider of online trading services specializing in foreign exchange (forex or FX) and contracts for difference (CFDs), has reached an agreement to acquire certain assets of MG Financial LLC’s U.S. 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 recognized names in the retail forex industry and has built a solid reputation by providing excellent service to its customers,” said Glenn Stevens, CEO, 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.”

GAIN Capital Holdings, Inc. is a global provider of online trading services, specializing in foreign exchange (forex or FX) and contracts for difference (CFDs). A pioneer in online forex trading, GAIN Capital provides execution, clearing, custody and technology products and services to an institutional client base including asset managers, broker/dealers and other financial services firms.

GAIN also operates FOREX.com, one of the largest and best-known brands in the retail forex industry. GAIN’s investor group includes private equity firms 3i, VantagePoint Venture Partners, Tudor Ventures, Edison Venture Fund and Cross Atlantic Capital Partners.

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FTSE 250-listed IG Group Holdings plc, which has a market capitalisation of pounds Sterling 1.8bn,  announced its acquisition of South African Contracts For Difference (CFD) company, IdealCFD Financial Services. The South African operation will be known as IG Markets South Africa Limited.

Commenting on the development, IG Group’s London-based CEO Tim Howkins said: “Our partnership with James Bishop and the IdealCFDs team stems back to four years ago when the group started supplying IdealCFDs with technology. IG Group’s acquisition of this business is the logical next step in our relationship and will enable local clients to benefit from our robust trading systems, global reach and our commitment to the innovative technology which allows us to keep our costs low.” Howkins points out that, ”The current market environment is well suited to CFD trading. In a period of market uncertainty CFDs give the long term investor the opportunity to hedge their existing shareholdings in a tax-effective manner, while creating significant trading opportunities for those looking to take advantage of short-term price movements.”

IG Markets also has an established broker network model, thus enabling regulated brokers to participate in the expanding CFD market. IG Group invests significantly in educating potential traders and investors on CFD trading.

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