Grant of operating licence in SingaporeSource: RNS
11 December 2017
("Plus500" or "the Company")
Grant of operating licence in Singapore
Plus500, a leading online service provider for retail customers to trade CFDs internationally, is pleased to announce that the Monetary Authority of Singapore has granted Plus500SG Pte. Ltd. a Capital Markets Services licence for dealing in securities and leveraged foreign exchange trading.
The grant of the Capital Markets Services licence reflects the scalability of the Company both from a business and a regulatory point of view and is in line with the Company's strategy to add new licences in order to expand its customer base globally and diversify its geographical revenues.
This licence adds to the Company's existing jurisdictions, being the United Kingdom, Australia, Cyprus, New Zealand, Israel and South Africa.
Asaf Elimelech, Chief Executive of Plus500 said:
"We are delighted to be granted this new licence in Singapore as we continue to expand globally and increase our potential customer base. Plus500's international brand awareness has increased significantly during the last few years and thanks to the new Singaporean licence the Company will be able to continue this positive momentum."
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
Plus500 operates an online trading platform for retail 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. Retail 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