IG Group Acquires Freetrade for £160 million

eToro to Acquire TradeZero to Accelerate U.S. Expansion

August 11, 2026

Financial Services

eToro Group Ltd. has entered into an agreement to acquire TradeZero, a U.S.-focused online brokerage serving active traders. The deal consideration is up to $231 million (cash and up to 2.5 million newly issued Class A shares), and is expected to close in the first half of 2027 subject to regulatory approvals.

IG Group Agrees to Acquire Underdog for Up to $1.3 Billion

July 31, 2026

Financial Services

IG Group Holdings has agreed to acquire Underdog, a US daily fantasy sports and prediction markets operator, for total consideration of up to approximately $1.3 billion. The deal includes upfront consideration based on an enterprise value of about $1.1 billion (partly in IG shares) plus an earnout of about $200 million payable to Underdog’s shareholders.

United Fintech Acquires Trade Ledger

November 5, 2025

Cloud & SaaS

United Fintech, a London-based digital transformation group for financial institutions, has acquired 100% of Trade Ledger, an AI-native lending platform, in an all-share transaction. Trade Ledger will retain its leadership and brand while becoming part of United Fintech’s Commercial Banking division to accelerate AI-driven lending and commercial banking automation.

United Fintech Acquires Cobalt

December 15, 2022

Financial Services

United Fintech has acquired 100% of Cobalt, a provider of shared ledger infrastructure and risk/data services for FX and digital assets, to strengthen its FX and digital-assets trading capabilities. Cobalt will operate as a standalone business under United Fintech, with United Fintech founder Christian Frahm named Chairman while Cobalt's leadership remains in place.

INTL FCStone Acquires GAIN Capital Holdings

February 27, 2020

Financial Services

INTL FCStone Inc. agreed to acquire GAIN Capital Holdings, Inc. in an all-cash transaction at $6.00 per share, valuing GAIN at approximately $236 million of equity value. The deal adds GAIN’s FOREX.com and City Index digital trading platforms to INTL’s global financial services network to expand retail client offerings and accelerate INTL’s platform digitization; the transaction is expected to close mid-2020 subject to shareholder and regulatory approvals.

Morgan Stanley to Acquire E*TRADE Financial Corporation

February 20, 2020

Financial Services

Morgan Stanley agreed to acquire E*TRADE in an all-stock transaction valued at about $13 billion, with E*TRADE stockholders receiving 1.0432 Morgan Stanley shares per E*TRADE share. The deal expands Morgan Stanley’s Wealth Management scale and digital capabilities by combining its advisor-driven business with E*TRADE’s direct-to-consumer brokerage, digital banking and workplace stock-plan capabilities. The transaction is expected to deliver cost and funding synergies and is subject to customary regulatory and shareholder approvals.