International Forex company IG Group, has recently made the announcement of its proposal to acquire financial content provider and online broker Tastytrade for USD1 billion. The Tastytrade management team will stay the same, the FCA-regulated brokerage said.
Official details of the deal, which is still subject to regulatory approvals, disclosed that USD300 million will be paid in cash by IG, while the remaining amount will be paid through IG securities (61 million). The deal is scheduled to close in 2022 in the first quarter of IG’s financial year.
Taking Advantage of the Growing US Market
The Forex trading scene in the US continues to expand, particularly at a time when many are still stuck at home. And that’s just what IG needs to take advantage of. The group strives to be the best of Forex brokers providing trading services in the US, and with Tastytrade, they can do just that.
More than 105,000 active trading accounts are currently opened with Tastytrade. Also, the company boasts unique registrations of 900,000. These numbers will greatly impact IG’s business in the now Biden-led country.
It’s worth noting that Forex brokers globally have always had a hard time entering the US Forex market due to its tight regulations and measures, which has led to many of them shutting down operations.
IG Group June Felix commented that the IG family is thrilled with the acquisition, which will help the company scale its business to new heights considering that the US retail options and futures have been experiencing significant growth in recent years.
More About Tastytrade
Before Tastytrade, the team behind it developed Thinkorswim, an online futures trading platform, which was later sold to TD Ameritrade in 2009.
In 2011, Tastytrade was formed. The platform is based in Chicago, Illinois and aims to enable traders and investors to remain ahead of the game. Their services provide education for retail traders, comprehensive financial materials, as well as brokerage services.
Thanks to the rising demand for its services, the last couple of years have been great for Tastytrade.
More About IG
The IG Group was formed in 1974 and has since proven to be one of the leading Forex brokerages in the industry. Trusted by over 230,000 traders from all over the world, the company is regulated by tier-1 regulators including US authority Commodity Futures Trading Commission. The UK’s Financial Conduct Authority also regulates the company, as well as the Australian Securities and Investment Commission. IG has proven to be a safe broker to trade with with these highly-recognized watchdogs.
A diverse collection of financial instruments is provided by IG. With its award-winning trading platforms, which include its flagship web-based trading platform, and the widely recognized MT4, you can buy and sell not only currencies, but also CFDs and even cryptocurrencies. Mobile trading is also offered by the broker, which enables you to trade anywhere, anytime you want.
Furthermore, anyone who trades with IG gets exclusive access to its high-quality Forex content in the forms of market research, news analysis, and trading signals. These contents are provided by IG’s in-house Forex educators and market strategists and analysts.