UK-listed Plus500 has secured a license from Estonia’s Financial Supervision Authority (FSA). This will enable the brand to operate as a licensed investment firm and offer ancillary services. The forex and CFD broker has also appointed a new CEO of its Estonian entity – Sigrid Aljas. Read on for the details.
The Financial Supervision Authority granted the license to Plus500EE AS last week. Regulatory oversight from the watchdog will help the retail trading brand grow its presence in the region. Providing reassurance to local traders, Plus500 will need to meet a string of regulatory requirements.
The FSA commented: “Based on the issued activity license, the company has the right to receive and forward orders related to securities, execute orders related to securities in the name or for the account of the client and trade in securities for its own account.” The regulator added, “As ancillary services to investment services, a company has the right to hold and manage the client’s securities and to provide services related to foreign exchange if they are related to the provision of investment services.”
Before securing its latest license, the brokerage was operating in Estonia by passporting its Cypriot license. The company also holds operating licenses with several other financial regulators, including in the UK, Australia, Cyprus, Singapore, Seychelles and South Africa.
Plus500’s Estonian entity will be headed up by Sigrid Aljas – an established lawyer with a background in retail trading services. Aljas was Head of Compliance at Admiral Markets Estonia. Earlier in her career, Aljas also worked at the Financial Supervision Authority.
Kerli Lõhmus has also joined the management board having previously been CFO of Estonian bank, Coop Pank AS. Before that, Lõhmus was CFO at the LVH Group, the biggest capital provider in Estonia.
Since its launch in 2008, Plus500 has picked up a string of awards and signed up tens of thousands of traders around the world. The firm offers its own trading software in the form of a browser-based terminal alongside a bespoke CFD dealing platform – Plus500 Invest.
More than 2,000 tradable assets are available, including currencies, stocks, cryptos, commodities, ETFs and options. Leverage varies depending on your location but is capped at 1:30 in the UK and Europe. It’s also worth noting that investors that qualify for ‘professional’ status can access higher rates.
New traders can get started with a $100 minimum deposit and 24/7 customer support is available to help users get setup.
Follow the link below to start trading today.