CFD broker Plus500 Ltd (LON:PLUS) just announced that the Financial Services Board, the South African authority that oversees the non-banking financial services industry, has granted Plus500AU Pty ltd., the Company’s Australian operating subsidiary, a licence to operate an online trading platform for retail customers to trade CFDs in South Africa, under FSP #47546.
The licence is effective immediately and has no time limitations.
Asaf Elimelech, Chief Executive of Plus500 said:
We are delighted to be granted this new licence in South Africa, which follows the recent additions of licences in New Zealand and Israel. This is in line with our strategy, stated in our preliminary results this week, to add new licences in order to expand our customer base globally and diversify our geographical revenues.
This licence also complements our recent sponsorship of Plus500 Brumbies, who as part of the international Super Rugby competition, play teams based in Australia, South Africa, New Zealand, Argentina and Japan.