FCA regulated CFD broker Plus500 Ltd (LON:PLUS) just announced that the Monetary Authority of Singapore has granted Plus500SG Pte. Ltd. a Capital Markets Services license for dealing in securities and leveraged foreign exchange trading.
The grant of the Capital Markets Services license 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 licenses in order to expand its customer base globally and diversify its geographical revenues.
This license 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 commented:
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.