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Plus500 sets up new subsidiary, gets South African Authorized FSP license

Feb 08 2018
By
Jonathan Smith

Plus500, one of the major global forex and CFD brokerages has obtained an Authorized Financial Service Provider (FSP) license from South Africa’s Financial Services Board (FSB) through its newly created subsidiary Plus500SA Pty Ltd., the company said.


Until now Plus500 had a South African license through its Australian subsidiary Plus500AU Pty Ltd., which it obtained in February 2017. According to the company, the new permit would enable it to build a fully staffed operation in South Africa taking advantage of the local pool of talented professional staff.


"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", said Asaf Elimelech, Chief Executive of Plus500.


The new license is the latest addition to Plus500’s collection of authorizations the relevant financial authorities in the UK, Australia, Cyprus, New Zealand, Israel and Singapore.


The broker offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS mobile operating systems.


TAGS: plus500  fsb  south africa  license 

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