Industry Recognition:
Verifying access......
The New Force of
Online Trading in Brazil
Born from the union between Merlin Capital and Warren, Elliot emerged with the freedom to scale and reinvent the market.
Unlocking value, expanding the market.
Operational Freedom
Agility to launch products, adjust strategies, and test channels with full autonomy.
Unlock Valuation
Breaking away from a consolidated structure allows us to grow with more aggressive multiples.
Execution Speed
A fully focused, structured, senior team with complete independence.
Launch of New Businesses:
- Digital launcher of products for traders
- A proprietary trading desk in an innovative American-style model, powered by cutting-edge technology
- Own app and platform
- Content (Editorial and Research)
- Subscription product to generate recurring revenue from clients
- International expansion — attracting traders and investors
What we hear from traders and investors:
A lack of platforms designed by people who actually trade
A fragmented and generic experience
Weak and low-technical support
Low agility in delivering specialized products
Costs that hinder the trader’s and investor’s real profitability
Little to no integration between content-consumption platforms and execution platforms
Elliot was created to solve these pain points with:
- A team of traders, for traders
- An ecosystem with an educational pathway and easy automated order execution and investing
- A lightweight infrastructure and a digital-first model
- Products and channels designed with a focus on easy decision-making and seamless execution
- Specialized support from people who truly understand the market
- Social trading/investing and gamification.
The Origin
Elliot was born as a business unit through an M&A between Merlin and Warren, bringing a lightweight, digital structure focused 100% on growth and product. In less than six months, it became a reference in the sector.
A scalable model delivering margin and consistent growth.
Revenue through RLP, auto-liquidation fees, brokerage, cross-sell, and recurring products
Automated upsell and cross-sell
Self-served clients who consume digital products
Low CAC through performance marketing + influencer network
High retention driven by content, an integrated platform, activation actions, and churn control
Market Outlook and Elliot’s Traction
Leads
0
Opened Accounts
0
Funded Accounts
0
Active Clients on BMF
0
June/25 Revenue
R$
.860,76
July/25 Revenue
R$
0
.181,43
WIN Contracts (Jul)
.103
WDO Contracts (Jul)
0
from 32nd to 8th place
BMF Ranking
How we gained market share in such a short time:
Influence from trading experts and content creators
Early access to new products for active clients
A team with experience building a business from the ground up
Brazil Trade Cup
Focus on high-quality order execution — performance
Building a sense of Community — from Trader to Trader
What sets us apart:
|
Entity / Solution
|
Native Social Trading
|
Engaged Community
|
Humanized, Specialized Support
|
Specialized Team
|
Performance-Driven Marketing
|
Execution Performance
|
Trading in Other Markets
|
|---|---|---|---|---|---|---|---|
|
Elliot
|
In development
|
✅
|
✅
|
✅
|
✅
|
✅
|
In development
|
|
Xp
|
✅
|
✅
|
❌
|
❌
|
✅
|
❌
|
❌
|
|
Toro
|
❌
|
✅
|
❌
|
❌
|
✅
|
❌
|
❌
|
|
BTG
|
❌
|
❌
|
❌
|
❌
|
❌
|
✅
|
❌
|
|
Genial
|
❌
|
❌
|
❌
|
❌
|
❌
|
✅
|
❌
|
Validation and Traction
Total Revenue
R$
0
Profit
R$
0
EBITDA Margin
0
%
Leads
0
Opened accounts
0
Active Accounts (NNA)
0
Evolution in the BMF Ranking
0
Number of WIN Contracts
0
Number of WDO Contracts
0
Total Mini Contracts (WIN + WDO)
0
Brokerage + Auto-Liquidation Revenue
R$
0
Other Revenue (BIT / BOVESPA)
R$
0
B2C Platform Fee
R$
0
B2B Platform Fee
R$
0
Gross Revenue (Without Platform)
R$
0
Total Expenses
R$
0
Business Days
0
Average Daily Revenue
Average Daily Revenue per Active Client
- 2023: active
- 2024: Warren / Elliot
- 2025: Still the fastest-growing
Strategy and Roadmap
- Model: Cash generator with reinvestment in growth
- Potential EBITDA Margin: 25–30%
Focus 2025–2026:
- Growth and consolidation of market share in the national market
- New digital products
- International Expansion
Next milestones:
- App launch and proprietary onboarding
- Expansion of recurring products
- Execution and cross-sell within the client base
Investimento / Parceria
Ticket mínimo:
R$ XX.XXX,XX
Participação
Y%
Uso dos recursos:
Tecnologia, aquisição de clientes, estruturação comercial, marketing e crescimento.
Team and Culture
30 people:
26 in-house + 4 contractors
100% of the leadership:
Traders with 8+ years of experience
Culture:
Horizontal, meritocratic, and driven by product and results
Real trading routine:
leaders trade every day
Experience:
People who understand the client because they’ve experienced the same pain points themselves
Founding Members
Organizational Chart
The Giant of the Global Market – “The International Trading Boom”
The trading market is exploding, driven by digitalization and AI, with massive opportunities in Forex and beyond.
Forex Market Growth in Trillions (2022–2025)
Success Benchmarks – Valuations That Inspire: Robinhood and eToro
Platforms similar to Elliot are already worth billions, proving the strength of the social trading and gamification model.
- Robinhood: USD 94 billion, focused on scale and 25 million users.
- eToro: USD 5.6 billion, focused on social engagement and 35 million users.
Valuation of Social Trading Platforms in billions of USD (2025)
Regional Opportunities
Mature vs. Emerging Markets: Focus on the U.S. and LatAm
Markets like the U.S. offer stability, while LatAm (with Mexico and Colombia) is experiencing explosive growth — perfect for Elliot’s spin-off.
|
Region
|
Daily Volume (USD)
|
% Global
|
|---|---|---|
|
Europe
|
USD 3.7 Trillion
|
37%
|
|
Asia
|
USD 2,5 Trillion
|
25%
|
|
USA
|
USD 1.377 Trillion
|
13,7%
|
|
LatAm
|
USD 200 Billion
|
2%
|
|
Mexico
|
USD 50 Billion
|
—
|
|
Colombia
|
USD 15 Billion
|
—
|
Meet the New Elliot Trader Community
We created a complete space to connect, learn, and grow.
In the Elliot community, traders don’t walk alone: they receive support, share strategies, follow live trades, and interact with other traders in real time.
Access the prototype and experience an ecosystem built for performance, engagement, and results.
Estamos construindo o futuro do trading online no Brasil.
Parceiros
- Lista de parceiros
- Trade Arena
About
Questions
Access our FAQ
Need help?
atendimento@elliot.com.br
Access WhatsApp
from 9 AM to 6 PM (business days)
Elliot is a business unit of Warren Rena. Account opening and trade intermediation are carried out by Renascença Distribuidora de Títulos e Valores Mobiliários Ltda. (“Warren Rena”), registered under CNPJ 62.287.735/0001-03, a financial institution duly authorized and regulated by the Central Bank of Brazil and the Brazilian Securities and Exchange Commission (CVM).
All digital order transmissions are subject to interruptions or delays, which may prevent or affect the sending of orders or the receipt of updated information.
Elliot does not provide securities advisory services. All investment decisions must be made by the client. Some financial market investments involve risk and may result in financial losses. Warren Rena is not responsible for any losses the client may incur as a result of operations carried out. Always review the risks of each operation and ensure they align with your investor profile before investing.
