Plus500 has cemented its position by becoming a primary member of the Futures Industry Association (FIA). The broker’s expansion in the US began with the acquisition of Cunningham Commodities a couple of years ago. This recent membership signifies a significant step forward.

Established in 1955, the FIA serves as a representative body for the interests of futures, options, and derivatives markets, including key players such as futures commission merchants and principal traders. Plus500 now joins the ranks of other influential entities. This includes clearing firms, exchanges, clearing houses, trading firms, and commodities specialists, as a proud member of the FIA.

David Zruia, the CEO of Plus500, emphasized the importance of this membership. He stated that it reflects the company’s commitment to executing its strategic roadmap in the US. Zruia noted, “Our membership of this highly respected, leading global organization represents another milestone for Plus500 as we harness our differentiated technological capabilities to seize the compelling growth opportunities in the US futures market.”

Plus500 Expands US Presence: Joins FIA and Seizes Growth

While Plus500, listed on the London Stock Exchange, is renowned for its retail trading services offering forex and contracts for differences (CFDs), its focus in the US is towards the futures market. According to the company, the US futures market presents a major multi-year growth opportunity, a sentiment echoed by its CEO.

The broker’s dedication to the US market is important because of its high-profile sponsorship deal with the Chicago Bulls. This sports sponsorship agreement was forged following the conclusion of Plus500’s longstanding contract with Spanish football club Atletico Madrid as the primary shirt sponsor.

Plus500 is not only expanding its presence but also diversifying its US business model by offering both Business-to-Business (B2B) and Business-to-Consumer (B2C) services. In addition to retail trading services, the company provides B2B market infrastructure services for institutional clients in the US futures market.

Financially, Plus500 reported a revenue of $168.1 million for the third quarter of 2023, representing a 5% increase from the previous quarter. However, the figures reflected a 14% decrease year-over-year. During this three-month period, the broker generated $153.7 million from trading income, showcasing its resilience and adaptability in the dynamic financial landscape.

Stay Updated with the Latest Broker News!