Plus500 receives new regulatory licence in Canada

(Sharecast News) - Trading platform tech group Plus500 has expanded further into North America after getting the green light from regulators in Canada, lifting the number of its regulatory licences worldwide to 15. The company said the licence, from the Canadian Investment Regulatory Organization, is an "important milestone" in the "well-established and highly regulated Canadian market".

The licence allows Plus500 to initiate its services within the over-the-counter market, with the aim to further expand its local proposition by offering an omni-channel suite of products, the company said.

Canada joins the US, Japan and UAE as high-growth, strategically important markets for Plus500 to obtain a licence, which "strengthen the economic moat around the business".

"We are delighted to have obtained this important authorisation from CIRO in Canada and we are excited to bring our market-leading technology capabilities to customers in the region," said chief executive David Zruia.

"This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our customers."