Plus500, a London-based multi-asset fintech group, has launched a new subsidiary in the UAE, Plus500Gulf Securities, under a mainland license issued by the Securities and Commodities Authority (SCA).
The SCA license allows Plus500 to broaden its customer acquisition efforts across the UAE mainland and expand its local product offering.
This includes the potential introduction of services beyond contracts for difference (CFDs), such as share dealing, futures, and options on futures.
Prior to this, Plus500 had been operating in the UAE under a Dubai Financial Services Authority (DFSA) license through the Dubai International Financial Centre (DIFC) for two years.
With the new SCA license, Plus500 now holds 14 international licenses and serves more than 30 million registered customers in over 60 countries.
It becomes one of the few firms in the UAE with both DFSA and SCA regulatory approvals.
The company, listed on the London Stock Exchange and part of the FTSE250 and STOXX Europe 600 indexes, is recognised for its proprietary technology and focus on regulatory compliance.
Plus500 said the new SCA license will support the rollout of “bespoke trading solutions tailored for UAE-based traders,” aiming to improve the regional trading experience.
The expansion follows a strong financial performance in 2024, with total revenue of approximately US$768 million.
As of December 31, 2024, Plus500 reported cash balances of around US$900 million and no debt.
Featured image credit: edited from freepik
