CXM Group has announced an agreement to acquire South African forex and CFD broker TD Markets (Pty) Ltd, marking a significant step in its strategy to strengthen its presence across Africa's growing online trading industry.
The proposed acquisition, announced on October 16, involves a Johannesburg-based broker authorised by South Africa's Financial Sector Conduct Authority (FSCA) under Financial Services Provider number 49128. TD Markets, established in 2015, reports serving more than 50,000 active clients across Africa. Financial terms of the transaction were not disclosed.
Under the proposed arrangement, TD Markets will retain its existing brand, management team and regulatory licence. The companies have also stated that clients' trading accounts, funds and platforms will remain unaffected. Amar Ramith will continue serving as TD Markets' chief executive.
CXM plans to combine its international liquidity and trading infrastructure with TD Markets' local market expertise and established introducing-broker network. The group also intends to invest in its Johannesburg operations to support further expansion across the African continent.
The transaction reflects continued consolidation in the global forex and CFD brokerage sector, where firms are seeking regulated local operations and established customer relationships to accelerate growth.
For CXM, the agreement provides an opportunity to expand its regional presence while preserving the existing operating structure of TD Markets, subject to completion of the transaction.
