Online trading company Plus500 Ltd (LON:PLUS) has conditionally agreed to acquire the full ownership of Guru Corretora de Títulos e Valores Mobiliários Ltda (Guru), a regulated broker-dealer in Brazil.

The acquisition further accelerates Plus500’s growth strategy in Latin America, building on its existing B2B partnership with Nelogica and its local presence in Colombia.

Guru is a registered broker-dealer, regulated by the Central Bank of Brazil (“BCB”) and the Securities and Exchange Commission of Brazil (“CVM”). Guru’s local expertise will accelerate growth and enable the delivery of new products and services to local customers, and its regulatory framework will allow the Group to build and broaden its local offering to include Brazilian stocks, futures, options and fixed income securities.

This transaction marks Plus500’s second strategic acquisition within approximately one week, following the recent announcement of the Hedge acquisition in the US.

David Zruia, Chief Executive Officer of Plus500, commented:

“Brazil is one of the world’s most attractive trading markets, and acquiring Guru gives us the licence, the experienced local team and the regulatory framework to thrive. By combining our proprietary technology and multi-asset trading expertise with our recently announced Nelogica partnership, we can now offer a far broader range of products, including access to US derivatives. This is another clear step in our value creation strategy to deepen our offering and reach new markets.”