CAPEX.com acquires WiredMarket as brokerage industry consolidates
“We see consolidation in the market as a positive development, and the current macroeconomic conditions and competitive landscape are favorable for such consolidation. We are currently exploring other opportunities, and this acquisition is just the beginning of our expansion plans. “
CAPEX.com has announced the acquisition of the book-of-clients of WiredMarket.com in order to expand to the Greek market, in the first M&A deal of the multi-licensed global broker.
WiredMarket.com is a renowned brokerage in Greece founded in 1991. With more than 30 years in operation, this leading local broker will now benefit from CAPEX’s capabilities to provide a more competitive offering to its Greek user base.
CAPEX.com will leverage WiredMarket.com to further grow and expand its online fintech business as the brokerage industry is expected to further consolidate amid an environment of interest rates hikes.
“We see consolidation in the market as a positive development”
Octavian Patrascu, CEO and Founder of CAPEX.com, said: “We are delighted to announce the acquisition of WiredMarket.com’s book of clients, which is in line with our growth strategy and strengthens our position in the Greek market. We are excited to welcome Wiredmarket.com’s clients to our platform, where they will instantly benefit from a wider range of products and services, from CFDs Trading to Investing in shares, integrated analysis tools, and attractive trading conditions”.
“We see consolidation in the market as a positive development, and the current macroeconomic conditions and competitive landscape are favorable for such consolidation. We are currently exploring other opportunities, and this acquisition is just the beginning of our expansion plans.
“Our expertise in the financial industry and dedication to the highest level of service will ensure that our new clients receive the best possible trading conditions on our platform. We believe that this acquisition is a win-win situation for both companies and our clients.”
CAPEX.com offers CFDs trading to investing in shares, analysis tools, competitive pricing
With the acquisition of WiredMarket.com’s book of clients, its clients will now receive attractive trading conditions, including competitive spreads, low fees, and access to advanced trading tools and an educational hub.
The global multi-licensed multi-asset broker offers a wide range of financial instruments, user-friendly platform, expert analysis, a modern product offering, and educational resources. The EU-based fintech startup allows users to invest in shares, as well as CFDs in Stocks, Indices, ETFs, and Commodities.
CAPEX.com has gone truly multi-asset with exchange-traded products in September 2022 with the addition of ETF and Stock trading via CAPEX Invest. The offering boasts more than 5,000 US, EU, and UK-listed securities and over 130 exchange-traded funds (ETFs).
CAPEX.com bringing Crypto to MENA region
The multi-asset broker has been expanding for a while now. In November 2022, the firm secured an in-principle authorization to offer crypto in the UAE. The in-principle approval for its crypto business comes to complete the picture as the company already holds the ADGM FSRA license to offer traditional financial services.
After completing its application process for full licensing, CAPEX.com will be able to offer its virtual asset services to customers across the Middle East and North Africa region. Under the Emirate’s “test-adapt-scale” virtual assets market model, CAPEX.com will share its in-depth industry knowledge, experience and insights with all stakeholders.
The CAPEX.com brand, which received its first license in 2016, is currently providing services across Europe, the Middle East, South Africa, Latin America, and South-East Asia. The company’s regulatory catalog encompasses licenses from the Cyprus Securities and Exchange Commission, Abu Dhabi Global Market Financial Services Regulatory Authority, and the Financial Sector Conduct Authority in South Africa.
CAPEX.com also launched a new product called StoX, which bundles a no-commission trading product with unleveraged fractional CFDs on shares of top US companies.
These operational and regulatory milestones came on the heels of closing a $21 million funding round back in June 2021.