CAPEX.com, a retail forex and contracts for differences (CFDs) broker, has expanded its global footprint with the acquisition of the clients' book of WiredMarket, which has an extensive presence in Greece.

CAPEX.com Acquired WiredMarket's Clients

Announced today (Thursday), it is the first merger-and-acquisition deal of CAPEX.com, established as CFD Global.com in 2016 and rebranded in 2019. The deal was strategic as it will help the broker to strengthen its grip on the Greek market.

"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," said the CEO and Founder of CAPEX.com, Octavian Patrascu.

"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."

CAPEX.com Expanding Global Footprint

Based in Athens, WiredMarket was established in 1991 and offered online CFDs trading services. However, it is not clear if the Greek broker is entirely shutting down its operations or is shifting its focus in some other areas.

The acquisition came when CAPEX.com expanded its global footprint and product lines. Earlier this year, the broker launched real share dealings services for Middle East and Noth Africa (MENA) clients, thus pivoting beyond its usual CFDs offerings.

It also strengthened its MENA presence by gaining in-principle approval for a cryptocurrency license from the United Arab Emirates' regulator, Abu Dhabi Global Markets (ADGM). Moreover, the brokerage is regulated in Cyprus, South Africa, and Seychelles. The share dealings service is being offered under ADGM's Financial Services Regulatory Authority (FSRA) license obtained in 2020.

"We see consolidation in the market as a positive development, and the current macroeconomic conditions and competitive landscape are favorable for such consolidation," Patrascu added. "We are currently exploring other opportunities, and this acquisition is just the beginning of our expansion plans."

Several other brokers closed similar clients' book acquisition deals earlier this year. A prominent one is Capital.com acquiring the clients' book of OvalX (formerly ETX Capital), which has now shuttered operations. Tixee is another broker that sold its clients' book to M4Markets, Finance Magnates reported exclusively.

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