The group was forced to stop taking on new UK clients in May last year and freeze existing trader accounts due to an investigation by the Financial Conduct Authority into its client data verification and anti-money laundering procedures.
The Company has confirmed that following the strengthening of the UK management team, both the Group and UK Boards intend that Plus500UK resumes the onboarding of new customers in January 2016.
Gaming industry software supplier Playtech had announced in June 2015 that it inked a deal to buy Plus500 for around £459.6m. However, the agreement was terminated in November due to regulatory concerns, with Playtech saying it could not fully allay the concerns of the FCA.
Plus500 is a leading provider of Contracts for Difference (CFD’s), delivering trading facilities on shares, forex, commodities, ETFs, options and indices, alongside innovative trading technology.
The Plus500 trading platform is offered by Plus500UK Ltd. A UK based company with its offices located in the city of London. The company is authorised and regulated by the Financial Conduct Authority (FCA) to offer Contracts For Difference (CFD). The company is a rapidly growing CFD provider and currently offers its portfolio of over 2000 instruments. Plus500UK Ltd is a subsidiary of Plus500 Ltd; a company listed on AIM, one of the equity markets of the London Stock Exchange, and headquartered in Haifa.