<p>Plus500 (LON: PLUS) has entered the lucrative markets in the Middle East by obtaining a license from the Dubai Financial Services Authority (DFSA), the brokerage company announced on Monday.</p><p>Plus500 Gains DFSA License</p><p>The London-listed company highlighted that the new license would offer a significant growth opportunity by allowing the broker to expand its offerings to customers in the United Arab Emirates.</p><p>“We are delighted to have received <a href=”https://www.financemagnates.com/forex/dfsa-wants-to-better-protect-clients-assets-publishes-new-strategy/” target=”_blank” rel=”follow”>license authorization from the DFSA</a> in the UAE, and we are excited to bring our market-leading technology capabilities to customers in the region. This is the latest realization of our strategy to enter new markets, develop new products, and deepen engagement with our customers,” said the CEO of Plus500, David Zruia.</p><p>The DFSA license is widely popular among brokers looking to tap the Middle Eastern markets. Other brokers, including <a href=”https://www.financemagnates.com/forex/brokers/exclusive-zenfinex-enters-mena-with-new-dfsa-license/” target=”_blank” rel=”follow”>Zenfinex</a>, <a href=”https://www.financemagnates.com/forex/brokers/xtb-mena-receives-a-license-from-the-dubai-financial-services-authority/” target=”_blank” rel=”follow”>XTB</a>, and MutiBank Group, have obtained DFSA approval in recent years.</p><p>Check out the iFX EXPO Dubai interview with Mohammad Alblooshi, the Head of Innovation Hub & FinTech Hive at DIFC.</p><p>Plus500 Focuses on Global Expansion</p><p>Headquartered in Israel, Plus500 was founded in 2008 and offers trading services with forex pairs and CFDs of popular asset classes like stocks, indices, <a href=”https://www.financemagnates.com/terms/c/cryptocurrencies/” class=”terms__main-term” id=”b091101e-6e02-4b36-aa0e-7c972dfdd6ed” target=”_blank”>cryptocurrencies</a>, ETFs, and options. It is one of the few publicly listed retail FX/CFDs brokers.</p><p>In addition, it is one of the brokers heavily invested in technology and offers trading services only on its proprietary <a href=”https://www.financemagnates.com/terms/t/trading-platform/” class=”terms__secondary-term” id=”f85800b2-ccf5-4f50-9e8e-780d32afc6f6″ target=”_blank”>trading platform</a>.</p><p>Over the years, Plus500 has significantly strengthened its regulatory requirements and now holds twelve licenses globally. The company has obtained licenses in the US, Japan, <a href=”https://www.financemagnates.com/forex/brokers/plus500-gains-a-new-regulatory-license-in-estonia/” target=”_blank” rel=”follow”>Estonia</a>, and <a href=”https://www.financemagnates.com/forex/brokers/plus500-secures-seychelles-licence-closes-2019-on-strong-footing/” target=”_blank” rel=”follow”>Seychelles</a> over the past three years. It <a href=”https://www.financemagnates.com/forex/brokers/plus500-announces-completion-of-cunninghams-acquisition/” target=”_blank” rel=”follow”>entered the US </a>and <a href=”https://www.financemagnates.com/forex/brokers/plus500-enters-japanese-market-acquires-ez-invest-securities/” target=”_blank” rel=”follow”>Japan</a> by acquiring two locally regulated companies in those markets.</p><p>The broker obtained the new DFSA license <a href=”https://www.financemagnates.com/forex/brokers/plus500-ends-2022-with-832m-in-revenue/” target=”_blank” rel=”follow”>after closing the fiscal year of 2022</a> with a revenue of $832 million and an EBITDA of about $454 million. Both figures increased from the previous year and came in line with the company’s expectations.</p><p>It now focuses on growth in the United States and launched a US-specific proprietary futures trading platform in Q3 2022. Last October, it ended a 7-year deal with the Spanish football club, Atletico Madrid, to sign a 4-year sponsorship deal with Chicago Bulls, a US-based professional basketball team.</p>
This article was written by Arnab Shome at www.financemagnates.com.
