Plus500 Granted CySEC License to Provide Financial Services in Cyprus
by
Adil Siddiqui
Following an exclusive report on the broker opening office on Cyprus in August, Plus500 has been officially approved by the CySEC watchdog as an investment firm, following the assistance of consultant Map S.Platis.
Listed multi-asset provider of financial derivatives, Plus500, has received authorization from CySEC to operate as a regulated investment firm, following the successful assistance by consultant Map S.Platis. The listed brokerage firm extends its European coverage through the newly granted licensed-entity, as it establishes a presence in Europe's second most popular hub for retail currency dealings.
As exclusively reported by Forex Magnates in August this year, the firm has finally received its authorization as an investment firm. Plus500 is a London-based financial services firm that is regulated by the Financial Conduct Authority (FCA).
Plus500’s new Cypriot unit complements its U.K. and Australian entities, thus giving the firm a wide coverage across key global financial centers and markets. During the whole process, Plus500 has been being advised by MAP S.Platis, the Cyprus-based regulatory consultant that has successfully helped navigate and procure over 80 CIF licenses for a variety of leading clients that includes such firms as Saxo Bank and Alpari, among others.
The Cyprus Phenomena
Cyprus has fast become a financial center for European financial and capital markets. The island has positioned itself as jurisdiction that is well-regulated and is ideal for international FX providers that are looking for a stamp of European approval. The country’s financial watchdog made headlines when it was the first to officially recognize binary options as a financial asset class. Furthermore, the country has established a full-ecosystem for financial derivatives trading with full front-to-back services readily available in the country that support the functioning of brokers.
Plus500 joins a handful of international firms that have set-up operations in Cyprus after having entities in well-regulated jurisdictions such as the U.K. However, the recent trend has been the opposite, with a number of Cypriot-origin firms expanding to the British Isles as they seek more opportunities.
Saxo Bank was one of the most popular Western European brokerage firm that extended its foothold to the Mediterranean haven. On the other hand, Liquid Markets dissolved its Cypriot license under CySEC in return for an FCA license in June, earlier this year. IronFX also enhanced its U.K. authorization to accept Client Money and deal as principal on trades.
Benefits of CySEC
Plus500 offers FX and CFD trading to a global audience. The firm’s website is translated into a total of 34 languages, covering Europe and Asia extensively. Under the CySEC license the firm will compete with other Cypriot regulated brokers, each having its own niche market.
A Cypriot authorized firm holds the same status in the eyes of European regulators as an FCA or Maltese regulated firm in relation to client money protection. However, under CySEC , firms interpret client on-boarding rules differently. In addition, Cyprus holds more significance for a broker's sales strategy when covering the Asian markets, its location and time zone makes it more convenient, accessible and cost effective to target the South East Asia and the Middle East, regions.
Plus500 becomes the first listed provider of margin derivatives to set-up shop in the Mediterranean island. Apart from FX derivatives, CySEC is fast becoming a hub for Binary Options, a financial asset class for short-term trading, an added value for Plus500 under the Cypriot license.
Plus500 has had its fair share of coverage in the news this year. The listed financial services firm was not receiving end of sporadic moves in its share price; on one occasion the moves were thought to be based on an analysis view on the stock, and this was followed by another incident whereby the broker was believed to be under the regulatory radar, as reported by the U.K. media.
The latest news of Plus500’s recognition under CySEC comes five years after the financial regulator, issued a warning against the brokerage firm outlining the fact that the firm was not regulated in Cyprus.
Listed multi-asset provider of financial derivatives, Plus500, has received authorization from CySEC to operate as a regulated investment firm, following the successful assistance by consultant Map S.Platis. The listed brokerage firm extends its European coverage through the newly granted licensed-entity, as it establishes a presence in Europe's second most popular hub for retail currency dealings.
As exclusively reported by Forex Magnates in August this year, the firm has finally received its authorization as an investment firm. Plus500 is a London-based financial services firm that is regulated by the Financial Conduct Authority (FCA).
Plus500’s new Cypriot unit complements its U.K. and Australian entities, thus giving the firm a wide coverage across key global financial centers and markets. During the whole process, Plus500 has been being advised by MAP S.Platis, the Cyprus-based regulatory consultant that has successfully helped navigate and procure over 80 CIF licenses for a variety of leading clients that includes such firms as Saxo Bank and Alpari, among others.
The Cyprus Phenomena
Cyprus has fast become a financial center for European financial and capital markets. The island has positioned itself as jurisdiction that is well-regulated and is ideal for international FX providers that are looking for a stamp of European approval. The country’s financial watchdog made headlines when it was the first to officially recognize binary options as a financial asset class. Furthermore, the country has established a full-ecosystem for financial derivatives trading with full front-to-back services readily available in the country that support the functioning of brokers.
Plus500 joins a handful of international firms that have set-up operations in Cyprus after having entities in well-regulated jurisdictions such as the U.K. However, the recent trend has been the opposite, with a number of Cypriot-origin firms expanding to the British Isles as they seek more opportunities.
Saxo Bank was one of the most popular Western European brokerage firm that extended its foothold to the Mediterranean haven. On the other hand, Liquid Markets dissolved its Cypriot license under CySEC in return for an FCA license in June, earlier this year. IronFX also enhanced its U.K. authorization to accept Client Money and deal as principal on trades.
Benefits of CySEC
Plus500 offers FX and CFD trading to a global audience. The firm’s website is translated into a total of 34 languages, covering Europe and Asia extensively. Under the CySEC license the firm will compete with other Cypriot regulated brokers, each having its own niche market.
A Cypriot authorized firm holds the same status in the eyes of European regulators as an FCA or Maltese regulated firm in relation to client money protection. However, under CySEC , firms interpret client on-boarding rules differently. In addition, Cyprus holds more significance for a broker's sales strategy when covering the Asian markets, its location and time zone makes it more convenient, accessible and cost effective to target the South East Asia and the Middle East, regions.
Plus500 becomes the first listed provider of margin derivatives to set-up shop in the Mediterranean island. Apart from FX derivatives, CySEC is fast becoming a hub for Binary Options, a financial asset class for short-term trading, an added value for Plus500 under the Cypriot license.
Plus500 has had its fair share of coverage in the news this year. The listed financial services firm was not receiving end of sporadic moves in its share price; on one occasion the moves were thought to be based on an analysis view on the stock, and this was followed by another incident whereby the broker was believed to be under the regulatory radar, as reported by the U.K. media.
The latest news of Plus500’s recognition under CySEC comes five years after the financial regulator, issued a warning against the brokerage firm outlining the fact that the firm was not regulated in Cyprus.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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