Orbex’s acquisition of HonorFX’s retail operations fuels Asian market growth while allowing specialization in respective fields.
The retail clientele and operations of HonorFX, another FX/CFDs broker, have been bought by Orbex, a forex and contracts for differences (CFDs) broker, according to a statement made to Finance Magnates. With this, Orbex will give HonorFX customers access to trade goods and services.
HonorFX is bought by Orbex
“Orbex’s acquisition of the retail business and retail clients from HonorFX is part of a strategic move to expand its presence in the Asian market,” a representative for the company told Finance Magnates. “With this acquisition, Orbex hopes to increase its regional presence while allowing HonorFX to concentrate on the institutional market. The goals for growth and specialization in each company’s respective fields of competence are reflected in this strategic choice.
Two Powerful CFD Brands
In the retail FX/CFDs brokerage market, Orbex and HonorFX are both well-known names. For more than 400 CFDs instruments in forex, equities, indices, cryptocurrencies, and other asset classes, traders can access Orbex alone.
With its headquarters in the United Arab Emirates, HonorFX is authorized to conduct business in Saint Vincent and the Grenadines, Malaysia, and Mauritius. Additionally, Orbex is authorized in the Seychelles.
Strategical in nature, the cooperation enables Orbex to fortify its position in the Middle East and North Africa (MENA) region. Further access to additional Asian markets will become possible.
Abdallah Abbas, the chairman of Orbex, said, “We are thrilled to welcome HonorFX clients to our Orbex family. “We think that this alliance will strengthen our competitiveness and allow us to provide even more exclusive terms and advantages to traders all over the world. We look forward to working with HonorFX and aiding their clients in attaining their trading goals!”
“While we are closely collaborating with our colleagues at HonorFX to achieve a seamless integration of operations, it is crucial to highlight that for Orbex clients it will be business as usual, meaning their trading experience will not change during the integration process.
With the introduction of the new OrbexPrepaidCard and OrbexCard app earlier this year, Orbex increased the scope of its product offering. Customers of the broker in the Gulf region, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Palestine, can obtain an OrbexMaestro Prepaid Card.
