Brokers News

Plus500 gets South African license

Plus500, one of Europe's leading forex and CFD brokers, obtained a license from South Africa's non-banking financial companies regulator, the Financial Services Board (FSB). It allows Plus500 to operate an online trading platform for retail customers to trade CFDs in South Africa.

 
The license comes into effect immediately. 
 
"We are delighted to be granted this new licence in South Africa, which follows the recent additions of licenses in New Zealand and Israel”, said Asaf Elimelech, Chief Executive of Plus500 , quoted in the company press release. “This is in line with our strategy, stated in our preliminary results this week, to add new licenses in order to expand our customer base globally and diversify our geographical revenues.”
 
Earlier this week Plus500 released a preliminary unaudited financial report for 2016, which revealed record revenue and numbers of new customers in the period. 
 
Other major forex brokers operating in South Africa are FXCM, XTrade, FXTM, AvaTrade. 
 
Plus500 is one of the major FCA-regulated forex brokers and one of the largest UK brokers by market capitalization. It offers trading in more than 2000 instruments that include forex, CFDs on stocks, indices, ETFs, options and forex.
 
 
TAGS: plus500  south africa  license  fsb 

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