Plus500 gets Singapore operating licence

AIM-listed online trading platform provider Plus500 has been granted an operating licence in Singapore to deal in securities and leveraged foreign exchange trading

The company said the grant of the Capital Markets Services licence reflects the scalability of the group both from a business and a regulatory point of view and is in line with its strategy to add new licences to expand its customer base globally and diversify its geographical revenues.

It adds to Plus500’s existing jurisdictions in the UK, Australia, Cyprus, New Zealand, Israel and South Africa.

Chief executive Asaf Elimelech said: "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."

At 0920 GMT, the shares were up 1.1% to 951p.