Monex Group's bid $411 million for TradeStation

Posted by Forexsq 349 days ago (http://forexmagnates.com)

Forex Broker Japanese Monex Group announced that it submitted a tender offer to acquire TradeStation Securities for about $411 million. Acquiring a financial business in most countries requires a regulatory approval and yesterday it was finally given to Monex and TradeStation.

TradeStation only recently decided to enter the retail forex market by itself, as opposed to being Gain’s IB until now, and registered with the CFTC as an RFED. TradeStation at the time of leaving Gain had 4,873 forex accounts with $30.8 million in forex assets.

Monex Group is a pretty small Japanese broker with estimated $2.5B/monthly FX Volume, 120,192 FX Clients, $240 million income and $55 million profit from fx, stocks and bonds.