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Plus500 has launched a new subsidiary, Plus500Gulf Securities, in the UAE under a mainland license from the Securities and Commodities Authority (SCA), allowing for expanded trading options beyond CFDs, including share dealing and futures. This move follows two years of operation under a Dubai Financial Services Authority (DFSA) license, making Plus500 one of the few firms in the UAE with both regulatory approvals. The company aims to enhance the trading experience for UAE-based customers, supported by a strong financial performance in 2024, reporting revenues of approximately US$768 million and cash balances of around US$900 million.
CMC Markets has seen significant growth in Australia, generating over £62.3 million in revenue in H2 FY23, surpassing its UK earnings for the first time. In contrast, IG Group's Australian revenue has declined from £65 million in H1 FY21 to £41.1 million in H2 FY24, while Plus500 also reported a drop in Australian earnings. Notably, Singaporean traders are the most lucrative for IG, averaging £4,914 in revenue per trader, compared to £3,054 in the UK and £2,977 in Australia.
The leading trading app in Singapore offers access to over 13,000 markets, including forex, indices, and commodities, with 24/7 trading hours and a suite of risk management tools. Users benefit from 24-hour customer support and a range of analytical features to enhance their trading experience.
Plus500 Ltd.
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