Plus500 agrees to buy Brazil’s Guru

Plus500 has agreed to acquire all of Guru Corretora de Títulos e Valores Mobiliários Ltda, a Brazilian broker-dealer regulated by the Central Bank of Brazil and the Securities and Exchange Commission of Brazil. The company announced the agreement in a regulatory news service statement at 7am, marking its second purchase of a licensed securities firm in about a week.

The acquisition will be funded entirely from Plus500’s existing cash, which stood at more than $860m on 30 June, with consideration payable on completion. Completion remains subject to customary regulatory approvals and standard closing conditions. Plus500 did not disclose a purchase price, a completion date, or Guru’s financial and client figures.

Strategic rationale

Plus500 said the deal provides a framework for a local offering covering Brazilian stocks, futures, options and fixed income. It builds on the company’s recently announced business-to-business partnership with Nelogica and its presence in Colombia, and is intended to give Latin American clients access to US derivatives. Chief Executive David Zruia said Brazil is one of the world’s most attractive trading markets and that acquiring Guru gives Plus500 the licence, experienced local team and regulatory framework to thrive. The company said it will pursue further Latin American growth both organically and through acquisitions.

The Guru deal follows last Tuesday’s conditional agreement to buy Hedge Capital Markets Inc., a US broker-dealer that Plus500 intends to use for a planned US super-app in the first quarter of 2027. Hedge is registered with the US Securities and Exchange Commission and is a member of the Financial Industry Regulatory Authority. That transaction is subject to a notice period expiring and approval under FINRA Rule 1017.

Until regulatory approvals and a completion date emerge, the timing and scope of Plus500’s Brazilian offering remain unknown.