DMA South Africa Acquires Saxo Australia in Strategic Expansion Move

Copenhagen-based retail FX and CFDs broker Saxo Bank has announced the sale of its ASIC-licensed Australian business, Saxo Australia, to South Africa’s DMA. The deal marks a significant step in Saxo’s ongoing restructuring and could signal further divestments in the near future.

DMA’s Entry into the Australian Market

DMA, a Johannesburg-based provider of software solutions for institutional investors, financial advisers, and wealth managers, has entered into an agreement to acquire an 80.1% stake in Saxo Australia. Saxo Bank will retain a 19.9% equity share in the business, ensuring continuity in its services and trading technology.

Pending regulatory approval, the transaction is expected to be finalized in the second half of 2025. During a transitional period, the business will continue operating under the Saxo Australia brand before rebranding under a new name.

What This Means for Saxo Australia Clients

Saxo Australia’s clients will see no immediate disruption to their trading experience, as the business will maintain Saxo Bank’s award-winning trading platforms and services. CEO Adam Smith will continue leading the company, with plans to expand Australia-based client service capacity.

With DMA’s backing, Saxo Australia’s investment product range will be complemented by DMA’s B2B expertise, offering financial professionals a seamless, end-to-end investment platform.

CFDs Sector Sees Increased Mergers and Exits

Saxo Australia’s acquisition is part of a growing trend of consolidation in the CFDs and online trading industry. Earlier this year, Czech-based FTMO acquired OANDA, one of the oldest names in retail forex trading. Meanwhile, eToro announced plans for a US IPO, targeting a $5 billion valuation.

These moves indicate a shifting landscape in the online brokerage industry, as firms reposition themselves for growth in changing regulatory and market environments.

DMA’s Vision for Australian Investors

DMA plans to enhance Saxo Australia’s offerings with its proprietary Software-as-a-Service (SaaS) solution, enabling institutional investors—such as financial advisers, asset managers, and fund managers—to connect front, middle, and back-office functions in a single integrated system.

This innovation will help financial firms reduce operational costs, streamline back-office processes, and enhance client services, ultimately driving business growth.

DMA CEO Richard North emphasized the value of this partnership:

“We believe DMA’s platform offering will bring tangible benefits to Australian financial advisers and wealth managers, while the business will continue to focus on delivering high-touch, high-quality service for self-directed retail clients.”

Saxo Bank’s Strategy Moving Forward

Saxo Bank CEO and Founder Kim Fournais described the deal as a win-win opportunity for both companies, allowing Saxo to focus on its core strength—scalable multi-asset trading infrastructure.

“We couldn’t be more pleased to partner with DMA as we seek to capitalize on the huge opportunity in the Australian market.”

With more than 160 wealth managers and adviser networks already using DMA across Africa, Europe, and the UK, this acquisition positions DMA as a growing force in global financial technology solutions.

The completion of this deal will mark an important milestone in DMA’s global expansion, while Saxo Bank continues exploring further strategic divestments.

As the industry experiences rapid changes, the focus will be on how DMA integrates its proprietary technology into the Australian market and how Saxo Bank’s next moves unfold in the global brokerage landscape.

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