Saxo Bank Selling Its Australian Business To South Africa’s DMA

Saxo Bank is moving forward with its strategic overhaul by selling its Australian business to South Africa’s DMA. This deal comes over six months after Saxo Bank enlisted Goldman Sachs to explore strategic opportunities, hinting at a potential breakup of the company. DMA, a provider of software solutions for institutional investors, wealth managers, and financial advisers, has agreed to acquire an 80.1% majority stake in Saxo Australia, leaving Saxo Bank with a 19.9% equity interest.

Saxo Bank Selling Its Australian Business To South Africa’s DMA

Also, the transaction, pending regulatory approvals, is going to close in the second half of 2025. As part of the deal, Saxo Australia will continue to use Saxo Bank’s platform and trading technology to ensure business continuity with minimal disruption to clients. The business will retain its current staff, including CEO Adam Smith, and will maintain its identity as Saxo Australia during a transitional phase, with a new name and branding planned post-acquisition.

Also, this move is part of a wider trend of exit activity in the online trading sector in early 2025. Recently, OANDA, one of the oldest names in the Retail FX and CFDs space, was acquired by Czech-based prop trading firm FTMO. Additionally, social trading leader eToro is ready to launch an IPO in the US, valued at around $5 billion.

Moreover, for Saxo Australia, the acquisition brings the complementary strengths of DMA’s business-to-business solutions and growth track record. DMA’s proprietary software as a service (SaaS) will empower Australian institutional investors by streamlining their front, middle, and back-office operations, reducing costs, and enhancing service capabilities. So, DMA CEO Richard North expressed confidence that the partnership would create a powerful offering for Australian financial advisers, wealth managers, and self-directed retail clients.

Company Overview

Saxo Bank stands out as a premier multi-asset broker, offering exceptional research capabilities and an exceptional trading platform, along with an impressive array of over 70,000 tradable instruments, which include spot forex, FX options, NDFs, CFDs, stocks, stock options, exchange-traded funds, ETNs, futures, and 33,000 bonds. For engaged traders, Saxo Bank offers a comprehensive and immersive trading journey, boasting an extensive toolkit, research resources, and premium features.

Discover more in our Complete Review.