Plus500 agrees Hedge acquisition for U.S. securities push

Plus500 has conditionally agreed to acquire Hedge Capital Markets Inc. and its subsidiaries, giving the trading group an SEC-registered, FINRA-member U.S. broker-dealer as it prepares a broader American platform.

The transaction would take Plus500 beyond its existing Commodity Futures Trading Commission-regulated U.S. operations, which provide clearing and execution for futures and prediction markets to retail and institutional clients. Hedge, founded in 2021 by Kyle Al-Rawi and Yash Khandelwal, offers U.S. retail investors access to exchange-listed securities including stocks and ETFs.

Plus500 expects the acquisition to expand its U.S. product range to stocks, options, ETFs and other listed securities alongside futures and prediction markets. The company plans to combine those products in a single proprietary-technology interface described as a “super-app.”

David Zruia said the deal gave Plus500 direct access to the U.S. securities market for the first time and paved the way for the planned platform. The company has established a New York hub alongside its Chicago operations, and Hedge personnel are expected to join the New York team.

The purchase price was not disclosed. The deal is to be financed entirely from existing cash resources, which exceeded $860 million on June 30, and remains subject to customary closing conditions, including FINRA approval under Rule 1017.

The expansion comes as Plus500’s non-OTC business, which covers futures and prediction markets, grew revenue by about 30% in the first half and accounted for about 15% of group revenue, up from roughly 13% a year earlier. Group revenue rose 12% to $462.9 million, while EBITDA increased 1% to $187.5 million. Active customers rose 10% to about 197,000 and net profit was $151.9 million, compared with $149.6 million a year before.

Plus500 attributed the relatively slower profit growth to increased customer-acquisition investment, costs of growing its U.S. business and currency headwinds. It expects to launch the U.S. super-app in the first quarter of 2027, before seeking to extend it to other geographies.