BaFin conclusion of consultation

RNS Number : 6246E

Plus500 Limited

09 May 2017

 

9^th May 2017

Plus500 Ltd.

("Plus500" or "the Company")

BaFin conclusion of consultation

Plus500, a leading online service provider for retail customers to trade CFDs internationally, today provides an update regarding BaFin, the German Federal Financial Supervisory Authority.

BaFin has now concluded its recent consultation (which commenced on 8 December 2016) and issued a final set of CFD trading restrictions to be implemented by 10 August 2017. The principal change is the implementation of negative balance protection where clients cannot lose more than their account balance.

Plus500 welcomes this protection mechanism for the industry and reiterates that the Company has always provided balance protection to its customers across all its product offerings in all its markets, as a core principle of its business model. Plus500 also notes that BaFin has not implemented any leverage limits. Therefore these changes will have no effect on its business.

Plus500 will continue to implement necessary adjustments to its business model when required by regulatory changes. The Company reaffirms that it does not have any regulatory restrictions in any of the Group's regulated markets.

Enquiries

Plus500
Elad Even-Chen, Chief Financial Officer	[phone] [e-mail]
Liberum - Nomad and Broker
Clayton Bush, Neil Elliot, Josh Hughes	[phone]
Berenberg (Joint Broker)
Chris Bowman, Amritha Murali, Marie Stolberg	[phone]
MHP Communications
Reg Hoare, Tim Rowntree, Kelsey Traynor	[phone]

About Plus500

Plus500 operates an online trading platform for retail customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs and foreign exchange. Retail customers of Plus500 can trade CFDs in more than 50 countries and in over 30 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), Apple Watch and web browsers.

Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel and New Zealand.  Customer care is integral to Plus500: customers cannot be subject to negative balances, there are no commissions on trades, and a 50% maintenance margin call is applied. Plus500 does not utilise cold calling techniques and does not offer binary options.  A free demo account is available on an unlimited basis for platform users and sophisticated risk management tools are provided free of charge to manage leverage and stop losses to help customers protect profits and limit capital losses.

www.plus500.co.uk

 

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