The CFDs broker has submitted a bid of 23 cents per share to acquire SelfWealth.
Shares of SelfWealth more than doubled following the acquisition bids.
AxiCorp Financial Services, which operates a retail contracts for differences (CFDs) brokerage under the brand Axi, is interested in acquiring the Australian trading platform SelfWealth and has submitted a bid of 23 cents per share. This would value the deal at AUD 52 million (about USD 34 million).
Start of a Bidding War
Axi’s latest bid challenges the interest of Bell Financial Group in SelfWealth, undercutting Bell’s bid by 1 cent.
SelfWealth, a publicly traded company in Australia, saw its shares more than double over the past few days with the onset of the bidding war. Bell Financial's bid of 22 cents per share was already a premium over the company’s 0.12 cents per share market value at Tuesday’s market close.
The movement of Selfwealth's share price; Source: Google Finance
“Axi has indicated that it is prepared to negotiate and sign a binding implementation deed in an expedited manner. The Axi proposal is not subject to due diligence or any financing conditions,” the SelfWealth board informed its shareholders.
“SelfWealth shareholders do not need to take any action in relation to the Bell proposal or the Axi proposal. There is no certainty that either proposal will result in a binding transaction. SelfWealth will continue to keep shareholders informed about the proposals in accordance with its continuous disclosure obligations.”
Finance Magnates reached out to Axi, but no response has been received as of press time.
A Publicly Listed Australian Trading Platform
SelfWealth, which promotes itself as “Australia’s most popular low-cost trading platform,” offers trading in shares listed on exchanges in Australia, the United States, and Hong Kong. It has about 129,000 active Australian investors and AUD 10.7 billion in funds under administration.
Founded in 2012, SelfWealth went public in 2017. In the fiscal year ending 30 June 2024, it generated a revenue of AUD 27.6 million, with a net profit of AUD 3.4 million.
Axi, meanwhile, offers CFDs trading and is led by CEO Rajesh Yohannan. The derivatives broker operates globally with licences in Australia, the UK, the UAE, St Vincent, and the Grenadines. Recently, Axi opened an office in India, which will serve as its technology and product centre.
Additionally, Axi is expanding its offerings, becoming one of the first CFD brokers to launch proprietary trading services. Unlike most in the prop trading industry, Axi offers live trading to prop traders and has raised questions about the sustainability of the demo account-based prop trading model.
AxiCorp Financial Services, which operates a retail contracts for differences (CFDs) brokerage under the brand Axi, is interested in acquiring the Australian trading platform SelfWealth and has submitted a bid of 23 cents per share. This would value the deal at AUD 52 million (about USD 34 million).
Start of a Bidding War
Axi’s latest bid challenges the interest of Bell Financial Group in SelfWealth, undercutting Bell’s bid by 1 cent.
SelfWealth, a publicly traded company in Australia, saw its shares more than double over the past few days with the onset of the bidding war. Bell Financial's bid of 22 cents per share was already a premium over the company’s 0.12 cents per share market value at Tuesday’s market close.
The movement of Selfwealth's share price; Source: Google Finance
“Axi has indicated that it is prepared to negotiate and sign a binding implementation deed in an expedited manner. The Axi proposal is not subject to due diligence or any financing conditions,” the SelfWealth board informed its shareholders.
“SelfWealth shareholders do not need to take any action in relation to the Bell proposal or the Axi proposal. There is no certainty that either proposal will result in a binding transaction. SelfWealth will continue to keep shareholders informed about the proposals in accordance with its continuous disclosure obligations.”
Finance Magnates reached out to Axi, but no response has been received as of press time.
A Publicly Listed Australian Trading Platform
SelfWealth, which promotes itself as “Australia’s most popular low-cost trading platform,” offers trading in shares listed on exchanges in Australia, the United States, and Hong Kong. It has about 129,000 active Australian investors and AUD 10.7 billion in funds under administration.
Founded in 2012, SelfWealth went public in 2017. In the fiscal year ending 30 June 2024, it generated a revenue of AUD 27.6 million, with a net profit of AUD 3.4 million.
Axi, meanwhile, offers CFDs trading and is led by CEO Rajesh Yohannan. The derivatives broker operates globally with licences in Australia, the UK, the UAE, St Vincent, and the Grenadines. Recently, Axi opened an office in India, which will serve as its technology and product centre.
Additionally, Axi is expanding its offerings, becoming one of the first CFD brokers to launch proprietary trading services. Unlike most in the prop trading industry, Axi offers live trading to prop traders and has raised questions about the sustainability of the demo account-based prop trading model.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Retail Traders Could See Crypto Perps from TMGM as Firm Moves to Hire Quant Trader
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
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▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
In this video, we take an in-depth look at @Exness , a global multi-asset broker operating since 2008, known for fast withdrawals, flexible account types, and strong regulatory coverage across multiple regions.
We break down Exness’s regulatory framework, supported trading platforms including MetaTrader 4, MetaTrader 5, Exness Terminal, and the Exness Trade App, as well as available account types such as Standard, Pro, Zero, and Raw Spread.
You’ll also learn about Exness’s leverage options, fees and commissions, swap-free trading, available instruments across forex, commodities, indices, stocks, and cryptocurrencies, and what traders can expect in terms of execution, funding speed, and customer support.
Watch the full review to see whether Exness aligns with your trading goals and strategy.
👉 Explore Exness’s full broker listing on the Finance Magnates Directory:
https://directory.financemagnates.com/multi-asset-brokers/exness/
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Exness #ExnessReview #Forex #FinanceMagnates #ForexBroker #BrokerReview #CFDTrading #OnlineTrading #MarketInsights
