Plus500 secures Canadian license from CIRO to offer OTC products, expanding its North American footprint amid global growth. Plus500 (LON: PLUS) has officially entered the Canadian market after securing regulatory approval from the Canadian Investment Regulatory Organisation (CIRO). The newly granted license is part of the company’s broader push into North America and will allow the company to offer over-the-counter (OTC) trading products within the country.

“This is the latest realisation of our strategy to enter new markets, develop new products, and deepen engagement with our customers,” said David Zruia, CEO of Plus500, in the official announcement.

He further emphasized that the move highlights the company’s ongoing efforts to diversify its product offerings and uphold high compliance standards. Plus500 plans to roll out an omni-channel suite of OTC trading products tailored for Canadian retail investors, although it has not yet disclosed a launch date.

Plus500 Enters Canada, Gains License for OTC Trading

The Canadian license comes just two months after Plus500 gained regulatory approval from the Securities and Commodities Authority (SCA) in the United Arab Emirates, expanding its footprint into the Middle East. With the latest addition, the Israeli-founded broker now holds 15 regulatory licences globally.

Plus500 is ramping up its North American operations and previously acquired Cunningham Commodities and Cunningham Trading Systems in the United States for $30 million, using funds entirely from its internal cash reserves. The company has also formed a strategic partnership with Barchart, a US-based market data and technology firm, to strengthen its presence in the American futures market.

Meanwhile, a recent regulatory filing revealed that Choh Tong Goh, CEO of Plus500’s Singapore arm, sold 2,401 shares of the company for more than £224,000. The reason for the sale has not been disclosed.

In a separate transaction, Capital Group, one of the largest asset management firms in the world, disclosed a 5.44% stake in Plus500, making it the third-largest shareholder in the brokerage. Although the parties did not disclose the transaction’s price, analysts estimated the stake’s value at £133.1 million ($181 million) on the day of disclosure.

As Plus500 continues to broaden its regulatory and geographic footprint, industry observers are watching to see how the company balances expansion with its traditional focus on contracts for differences (CFDs) and futures products. The Canadian market, with its evolving regulatory environment and investor base, could provide fertile ground for the firm’s OTC ambitions.

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