World's Trading Machine
|Traded as||LSE: PLUS|
Number of locations
|Services||Online trading platform|
|Revenue||US$ 56.1 million (2012)|
|US$ 23 million (2012)|
Plus500 is an Israeli-based company providing online trading services to retail customers. The company was founded in 2008 and provides trading in CFDs on a range of financial markets. The company's main operations are based in Israel, with official registration and headquarters based in London. Shares of the parent company are listed on the Alternative Investment Market in London, Australia and Cyprus.
The company was founded by six alumni of the Technion Institute of Technology (Gal Haber, Alon Gonen, Elad Ben-Izhak, Shlomi Weizman, Omer Elezri and Shimon Sofer), with an initial investment of $400,000 contributed by Gonen, the managing director of the company.
In 2013, the company announced an Initial public offering on the AIM market of the London Stock Exchange. Its shares started publicly trading on the AIM market of the on 22 July 2013 raising up to US$ 75million, which put the company's Market capitalization to US$ 200million.
The company is registered and located in the UK with offices in Israel and Australia. Its main operations are in Israel and in London. The service was initially a PC-based trading system. In 2010, the company rolled out its browser version for Mac OS and Linux users. In 2011, they launched their first app for iPad and iPhone users and during the following year they launched the Android app and In 2014 the company launched its Windows app.
It has been reported that 40% of the transactions were made by either Smartphones or tablets.
The Financial Services Authority (FSA) has fined firm, Plus500UK Limited (Plus500) £205,128 for failing to provide accurate and timely transaction reports to the FSA in respect of all the reportable transactions they carried out.
Plus500 is currently the subject of several ongoing complaints by the office of the Financial Ombudsman UK in relation to retention of funds on user accounts and the Financial Conduct Authority (FSA) in regard to insufficient provision of access to a customer service system.
The company runs an affiliate program called 500Affiliates to refer new traders by website owners and other internet marketers. The program has over 70,000 registered affiliates worldwide, operating in 29 languages. It has been named one of the most profitable affiliate programs by some trading news sites.
Plus500 Ltd licences their CFD Trading Platform as the Plus500 brand. Plus500 Ltd operates its CFD business through its subsidiaries: Plus500UK Ltd. which is authorised and regulated by the Financial Conduct Authority (FCA), FRN 509909; Plus500AU Pty Ltd AFSL #417727 issued by the Australian Securities and Investments Commission, (ASIC) and Plus500CY Ltd which is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) SEC registration number 250/14.
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