<p class=”MsoNormal text-align-justify”>Plus500, an Israel-headquartered forex and
contract for difference (CFD) broker, has signed a four-year partnership deal
with the Chicago Bulls, a US-based professional basketball team.</p><p class=”MsoNormal”>The deal is the first sponsorship of a US sports
team by the broker which recently <a href=”https://www.financemagnates.com/forex/brokers/plus500-and-atletico-madrid-end-long-term-partnership/”>ended a 7-year
deal</a> with Spanish football
club Atletico Madrid.</p><p class=”MsoNormal text-align-justify”>Plus500’s roster of sports sponsorship which includes football clubs such as
Italy’s Atalanta B.CL, Poland’s Legia Warsaw and Switzerland’s BSC Young Boys.</p><p class=”MsoNormal”>CEO David Zruia in a statement released on
Monday stated that the collaboration with Chicago Bulls will help the broker to drive brand
awareness in the US. </p><p class=”MsoNormal”>Zruaia added that the deal is part of the broker’s effort to diversify its global product offering and grow its presence
“in this significant and exciting market.”</p><p class=”MsoNormal”>“The four-year partnership
will include various marketing elements, community initiatives, social media
content, events and more to drive brand awareness and build on the core
synergies that both brands have in common: innovation, culture and
success,” Plus500 explained in the statement.</p><p class=”MsoNormal”>It added, “It will also emphasize Plus500’s ambitions to
develop its global footprint by entering new markets, and specifically the
Group’s connection with the city of Chicago — the heart of the US futures
industry and where Plus500’s US operations are located.”</p><p class=”MsoNormal text-align-justify”>‘Confidence in the US Market’</p><p class=”MsoNormal”>In September, Plus500 announced <a href=”https://www.financemagnates.com/forex/brokers/plus500-sets-ambitious-revenue-objective-with-five-year-plan/”>a five-year
plan</a> to achieve an
incremental annualized revenue objective of approximately $500 million.</p><p class=”MsoNormal text-align-justify”>The broker, which saw <a href=”https://www.financemagnates.com/forex/brokers/plus500s-revenues-climb-48-yoy-in-h1-2022/” target=”_blank”>a 48% surge</a> in half-year 2022
revenue, stated that this plan will be driven by, among other things, its
expansion into new geographies, including the United States. </p><p class=”MsoNormal”>In the Monday statement, Plus500 further
explained that its recent launch of futures trading platform, TradeSniper, which “specifically designed and tailored for retail traders in the US” and provision
of brokerage-execution and clearing services are compelling evidence of its
“confidence in the US markets” and resource dedication.</p><p class=”MsoNormal”>“To support its position in the [United States]
futures market, Plus500 is now a full clearing member of the Chicago Mercantile Exchange (CME) and the Group
is already making progress in expanding its clearing capabilities with other
exchanges in the global futures market,” Plus500 added.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
