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Recently, many financial institutions have expanded their clientele to the Middle Eastern region. Through acquiring a license from the Dubai Financial Services Authority (DFSA), Plus500 has joined this group of brokers. The broker announced this on Monday, February 6, 2023.
Details of Plus500 Getting the DFSA License
XTB, MutiBank Group, and Zenfinex are some of the most recent brokers to get the DFSA's approval. Plus500 has joined this league of brokers to increase its offering to its clientele in the UAE.
According to David Zruia, Plus500 CEO, the firm is "elated to have gained the license from the DFSA to provide top-notch technological capabilities to customers in the area." He said the company aims to expand into new areas, create new goods, and strengthen relationships with its clientele.
The CFO of Plus500, Elad Even-Chen, has also reacted to the news of the company's license. In his words, "the broker is happy to have secured this license in the high-growth market of the UAE." He also said that the license provides the broker with a significant, long-term commercial potential to draw in and keep a higher-value clientele.
Plus500's Mission for Global Expansion
Plus500 has drastically improved its compliance with regulatory requirements in the last few years. Between 2020 and 2023, the broker received operative licenses from regulatory bodies in the US, Seychelles, Japan, and Estonia.
The broker rounded off the previous fiscal year with sales of $832 million, which strongly indicates that Plus500 is a thriving industry leader. In Q3 2022, the firm introduced its futures trading platform in the US to increase its offerings to its US-based clientele.
The broker maximized its seven-year sponsorship deal with the famous Spanish soccer team, Atletico Madrid, which ended in October 2022. The broker is now signed to a four-year partnership deal with the US baseball team, the Chicago Bulls.
About Plus 500
Established in 2008, Plus500 is a multinational and multi-asset fintech firm. It offers its clientele a variety of trading instruments, such as futures trading and share dealing. It is a part of the FTSE 250 index and has a premium listing on the Main Market of the London Stock Exchange.
The parent company of the Plus500 trading platform is Plus500UK Ltd, a business with headquarters in London. The Financial Conduct Authority (FCA) oversees the business to provide Contracts for Difference (CFD). With a million clientele and an offering of over 1000 instruments, the company is fast becoming a notable CFD supplier in Europe and Asia.
Plus500 is one of the best brokers in 2023 because of the quality of its offerings. The broker also enjoys positive client reviews on various platforms.
