Saturday , January 23 2021

1-Plus500 UPDATE sees full year results in front of expectations



(Adds background, details on the latest trading update)

November 20 (Reuters) – The online trading platform, Plus500 Ltd, said on Tuesday that its full year results would face market expectations, as a strong third quarter trading in the last quarter.

"We believe that we are well placed for 2019 and continue to focus on the acquisition of high value customers," said CEO of Asam Elimelech in a statement.

As its peers, IG Group Holdings Plc and CMC Markets Plc, the company has been scrutinized as regulators tighten rules on products that allow anyone with a bank card to make very high bets on markets financially through their apps and platforms online.

However, the European Union ban on selling "binary options" for retail customers will be extended for three months from January 2, a block warranty market guard said earlier this month.

Despite tight regulation, the Israel-based company recently introduced incredible third quarter results as it benefits from the increase in instability, cryptocurrency derivatives and other financial markets.

The London-based online broker, who sponsors Atletico Madrid, provides an online platform for retail customers to trading contracts for differences (CFDs), which are & # 39; n facilitate bets on moving in share prices without having to buy basic stock. (Report by Karina Dsouza and Noor Zainab Hussain in Bengaluru; Edited by Sunil Nair)

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