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Posts tagged as “Forex South Africa”

Plus500 Open Offices in South Africa

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Plus500 is arguably one of the best-known Broker known for trading CFDs on forex, commodities, shares, indices, and ETFs, making it one of the few platforms that trade with such a variety of instruments. Founded in 2008, the company is currently headquartered in Sydney, Australia, but is regulated in South Africa by the FSCA. According to several Plus500 Reviews like on the well-known South African Trading Portal tradeforexinsa.co.za (Plus500 Review), the platform currently provides over 2000 tradable instruments to its clients. Plus 500 has low spreads, with the leverage offered up to 1:300 and no additional hidden charges. Unlike other brokerage websites, Plus 500 displays all past trades and current positions of the asset in a user-friendly way.

Plus500 offers an individual trading account to its users. To check whether their users are aware of the basics of CFD trading, it conducts a small test. The minimum deposit required is $100 and they take payments through electronic wallets, credit/debit cards, and even bank transfers.

All of Plus500’s subsidiaries are regulated and authorised by the regulatory bodies of the countries they are situated in. The subsidiaries are licenced by Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission along with Financial Sector Conduct Authority (FSCA) in South Africa. Furthermore, Plus500’s CFD trading platform is also licensed in Israel and by the Monetary Authority of Singapore.

Fully Staffed Office in South Africa

According to some recent reports, Plus500 has made a commitment towards a big expansion in South Africa. A brand New Subsidiary called Plus500 SA Pty was licenced under the Financial Services Board of South Africa as an Authorised Financial Service provider.

This is not the first time Plus500 has been operating in the country, as it has already been providing services under its Australian subsidiary since being licenced back in 2017. This latest move indicates the firm’s intention to expand its presence inside South Africa. With plans to open a fully-staffed operational base in South Africa, Plus500 is looking to expand further in the region. This comes at a time when regulations in Europe would cause limitations to growth in the near future.

About the New Operations Office

The recent expansion plans in South Africa are part of a much wider effort of diversification by Plus500. With the latest South African addition, the firm has now expanded licenced subsidiaries across four continents. Big offices of Plus500 are in Haifa in Israel, Sofia in Bulgaria and Limassol in Cyprus. These locations are paramount to the diversification of the company’s client approach, while also securing a diversified cost base for staff. The new office in South Africa will, hence, further boost the company’s capabilities when it comes to onboarding clients from emerging markets. This is key at a time when Europe is increasingly being restricted by regulatory limitations.

Concluding Thoughts

Plus 500’s move to open offices in South Africa would enable them to easily expand its global customer base even further. It already has future plans in store for getting registrations in other countries as well, in a hope to diversify the geographical revenues.