FTMO Acquires OANDA Broker, Reinforcing Financial Strength

FTMO acquires OANDA Broker, expanding its market presence and reinforcing financial strength with strategic growth ambitions. The proprietary trading firm FTMO that recently took over OANDA, held over CZK 1.94 billion (more than USD 81.5 million) in cash at the close of 2023, marking an increase of approximately 275 percent from the prior year.

FTMO Acquires OANDA Broker in Strategic Expansion

The prop trading powerhouse reported revenue of nearly CZK 5 billion (over $213 million) in 2023, reflecting a 20 percent surge. Additionally, its EBITDA for the year climbed to nearly $100 million.

As per its 2023 annual report, FTMO closed the year with a pre-tax profit of CZK 2.37 billion (around USD 98 million), an increase of over 31 percent from the previous year’s CZK 1.8 billion (approximately USD 74.5 million). Post-tax, its net profit stood at CZK 1.92 billion (more than USD 79.3 million).

Expanding Trading Services

FTMO recently made headlines by acquiring OANDA, a well-established forex and contracts for differences (CFDs) broker, from CVC Asia Fund. FTMO had already signaled its interest in the brokerage sector by launching its brokerage division and hiring Michael Kamerman to lead it. Later, it also appointed Riana Chaili as the division’s Chief Operating Officer.

FTMO did not disclose the financial details of the OANDA acquisition. However, CVC originally purchased OANDA in 2018 for around $162.5 million.

The official announcement did not clarify whether FTMO’s acquisition of OANDA was a cash transaction or involved another structure. Nevertheless, the firm’s balance sheet highlights its strong cash position.

Meanwhile, FTMO is not alone in maintaining a significant cash reserve in the trading sector. London-based IG Group recently completed the acquisition of Freetrade in a £160 million cash deal and continues to distribute part of its cash reserves to shareholders through dividends and buybacks. Additionally, Plus500, another CFDs broker, holds a substantial cash balance of $950 million.

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