Grant of FSB licence to open Plus500SA Pty Ltd
Updated : 07:03
07 February 2018
Plus500 Ltd.
("Plus500" or "the Company")
Grant of FSB licence to open Plus500SA Pty Ltd
Plus500, a leading online service provider for customers to trade CFDs internationally, is pleased to announce that the Financial Services Board ('FSB') of South Africa has granted Plus500 a licence to operate as an Authorised Financial Service Provider in South Africa through a newly created subsidiary Plus500SA Pty Ltd.
This follows the announcement made on 7 February 2017, that the FSB had granted Plus500AU Pty Ltd., the Company's Australian operating subsidiary, a licence to operate an online trading platform for customers to trade CFDs in South Africa under FSP #47546. This will enable Plus500 to now build a fully staffed operation in South Africa taking advantage of the local pool of talented professional staff.
This licence further demonstrates the scalability of Plus500's platform, as well as the further geographical diversification of its business, adding to the Company's existing jurisdictions in UK, Australia, Cyprus, New Zealand, Israel and Singapore.
Asaf Elimelech, Chief Executive of Plus500 said:
"We are pleased that the FSB has granted us this licence which will enable us to grow our global customer base further. We continue to identify opportunities to add new licences in order to expand globally and diversify our geographical revenues."
For further information please contact:
Plus500 Ltd +972 4 8189503
Elad Even-Chen, Chief Financial Officer
Liberum - Nomad and Broker +44 20 3100 2222
Clayton Bush, Neil Elliot, Josh Hughes
Berenberg (Joint Broker) +44 20 3207 7800
Chris Bowman, Mark Whitmore
MHP Communications +44 20 3128 8100
Reg Hoare, Tim Rowntree, Kelsey Traynor
About Plus500
Plus500 operates an online trading platform for customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs, crypto currencies and foreign exchange. Customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers).
Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, New Zealand, Israel, South Africa and Singapore. Customer care is integral to Plus500: customers cannot be subject to negative balances, there are no commissions on trades. Plus500 does not utilise cold calling techniques and does not offer binary options. A free demo account is available on an unlimited basis for platform users and sophisticated risk management tools are provided free of charge to manage leverage and stop losses to help customers protect profits and limit capital losses.
This information is provided by RNS