FTMO Completes OANDA Acquisition Deal

Czech prop trading firm FTMO completed its acquisition of OANDA on Monday.

Ten months ago, FTMO reached an agreement with globally renowned private equity firm CVC Capital Partners. And the deal obtained approvals from five regulatory bodies.

The OANDA acquisition will support the prop trading firm's expansion into brokerage services. Last year, FTMO established a brokerage division and appointed Michael Kamerman as its CEO. However, the company has not disclosed any plans for obtaining additional licenses.

To support the OANDA acquisition, FTMO secured a $250 million credit line from a syndicate of Czech banks.

FTMO CEO Otakar Šuffner stated the company remains focused on its core business as a modern prop trading platform. He said: "The long-term plan is to build a trading powerhouse, which will serve traders on all levels – modern prop trading and brokerage with the relevant tools."

FTMO also emphasized that the OANDA Group will operate as a fully standalone business. Furthermore, the company has not disclosed the future direction of OANDA Prop Trader, OANDA's prop trading brand.

BrokersView reminds you

Founded in 1996, OANDA is a well-known online trading brand in the retail trading sector, licensed to operate in several markets, including the UK, US, Australia, and Canada.

In 2018, CVC Capital Partners Asia, a globally renowned private equity firm, acquired OANDA for approximately $160 million.