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Local accounts stay with TD Markets
CXM Group has agreed to acquire Johannesburg-based TD Markets. The parties have not made the deal's financial terms public. After completion, TD Markets is set to keep its name, management and FSCA licence.
South African clients will continue to be served by TD Markets' local unit, leaving their accounts, funds and regulator unchanged. Agreements with introducing brokers and other partners will also stay in place. Amar Ramith, TD Markets CEO, will remain in the role. He said the transaction was selected with the long-term interests of clients and staff in mind, and that CXM would provide added support while preserving the firm's familiar service.
Acquisition adds a South African licence
TD Markets, founded in 2015, serves a client base of more than 50,000 active traders across Africa. Its South African operation holds a Financial Services Provider licence issued by the local regulator.
CXM Group, also founded in 2015, has licences in Seychelles, Mauritius, the UAE and Cambodia. The acquisition would give it a regulated presence in South Africa.
Technology plans follow completion
After completion, the companies plan to bring CXM's liquidity and execution infrastructure to South African clients, alongside new market access and platform connections. CXM launched 24/7 gold trading and linked its trading accounts to TradingView earlier this year. Finance Magnates first reported the acquisition. TD Markets partners are also due to gain access to CXM's international partnership programme, while CXM plans to invest in its Johannesburg team as a platform for expansion across Africa.
- 24/7 gold trading for South African clients
- TradingView connectivity
- CXM liquidity and execution infrastructure
What to watch next
Other firms have used South African acquisitions or local entities to establish a presence: ACY Securities acquired Ingot Brokers South Africa for an FSCA licence, Mitrade bought an FSCA-regulated firm, and Exness has set up locally. The country's over-the-counter derivatives provider (ODP) licensing regime has been difficult for international brokers. High operating costs have prompted some large firms to exit, while others have pulled licence applications before completing the process.
For trading and operations teams, the announcement leaves key implementation details open. Before any service changes, operators will need clarity on whether the rollout affects account configuration, execution routing, reporting or support workflows. The firms have not specified how they will connect the planned TradingView access and liquidity infrastructure to TD Markets' existing setup, or when each service will be available. Those details, along with any effect on reconciliation and compliance processes, are worth confirming as completion approaches.
