Orbex, a prominent player in the forex and contracts for differences (CFDs) brokerage industry, has recently made a significant move by acquiring HonorFX’s retail business and its corresponding client base. In an exclusive statement, Orbex confirmed this strategic acquisition, marking a pivotal moment in its expansion plans.
The acquisition of HonorFX’s retail business is part of Orbex’s broader strategy to solidify its footprint in the Asian market. A spokesperson at Orbex emphasized that this move is aligned with their objectives for growth and specialization, while also accommodating HonorFX’s shift towards focusing on the institutional side of the business.
Orbex, already a well-known brand, offers traders access to an extensive array of trading products. Their offering encompasses over 400 CFD instruments across various asset classes, including forex, stocks, indices, cryptocurrencies, and more. This comprehensive product range has made Orbex a trusted choice among traders worldwide.
HonorFX, headquartered in the United Arab Emirates, operates with licenses obtained from Mauritius, Malaysia, and Saint Vincent and the Grenadines. In comparison, Orbex holds a license in the Seychelles. This acquisition presents a strategic opportunity for both companies, enabling Orbex to strengthen its presence not only in the Asian market but also in the Middle East and North Africa (MENA) region. Additionally, it opens doors to explore further opportunities in other Asian markets.
Abdallah Abbas, the Chairman at Orbex, expressed his excitement about welcoming HonorFX’s clients into the Orbex family. He believes that this strategic partnership will enhance their competitive edge and enable them to offer even more exclusive terms and benefits to traders worldwide. Abbas also reassured existing Orbex clients that their trading experience would remain seamless and unaffected during the integration process.
The Bold Expansion
Earlier in the year, Orbex had expanded its product range by introducing the Orbex Prepaid Card and Orbex Card app. These offerings were made available to the broker’s clients in the Gulf Region, including Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and Palestine. The introduction of these financial tools aimed to enhance convenience and accessibility for traders in the region.
Orbex’s acquisition of HonorFX’s retail business represents a strategic milestone in its growth journey. This move not only solidifies Orbex’s presence in key markets but also underlines its commitment to offering a diverse and comprehensive range of trading products and services to its clients around the world. Orbex’s continued expansion and dedication to serving its clients demonstrate its position as a leading player in the forex and CFDs brokerage industry.
