Plus500 the well known retail CFD brokerage has become regulated by ASIC the regulatory authority serving Australia. With Plus500AU Pty Ltd. being regulated by by the Australian Securities and Investment Commission (ASIC). ACN 153 301 681, AFSL Number 417727. This step allows Plus500 to accept Australian Clients to its platform and is a significant expansion for Plus500 who were previously only regulated by FSA which allowed them to accept clients from all 27 European Union countries.
This move by Plus500 appears to make strategic sense with the Asia Pacific area being a huge growth area. By becoming regulated in Australia Plus500 will gain a much stronger footing in this area. They will also enter into the competitive Australian Contract for Difference market being yet another provider of the popular financial derivative. Providing more choice for Australian consumers. Whether Plus500 will be successful in the Australian marketplace is yet to be seen.
The offering for the Australian market doesn’t appear to differ much from Plus500’s offering for those based in Europe. The minimum deposit is 100 Aussie dollars with there also being a 30 Dollar no deposit bonus on offer at the moment. The Australian platform appears offer more Australian shares as well as offering many of the same instruments which are available at Plus500’s European offering.
This move into the Australian market appears to follow an underlying trend in the world of CFD’s and Forex trading, with many brokers either merging and consolidating their operations or expanding. It seems in the current market place that only brokers who are of considerable size can survive with many brokerages looking toward developing new markets as the European Contract for difference market matures. I expect to see more CFD brokers becoming regulated in Australia in order to expand into new markets in the Far East and Oceania. Made To Trade will be watching Plus500’s expansion with much interest.
Expect to see more industry developments in the coming months.
