Plus500’s American division has enhanced its presence in the United States by becoming a full Futures Industry Association (FIA) member. This move marks a significant step for the broker, which entered the US market a few years back through an acquisition.
Plus 500 Expands Its US Presence by Joining FIA
This membership with the FIA, established in 1955, is a strategic step for Plus500. The FIA advocates for the futures, options, and derivatives markets and includes various members such as futures commission merchants, principal traders, clearing firms, exchanges, and trading firms.
Plus500’s membership aligns them with other significant market players in these fields.
David Zruia, CEO of Plus500, expressed that the FIA membership aligns with the company’s strategic plans in the US, marking a significant milestone. He emphasised Plus500’s unique technological strengths and its focus on the growth potential in the US futures market.
Plus500, listed on the London Stock Exchange and originating from Israel is renowned for its retail trading services in forex and contracts for differences (CFDs). Its acquisition of Cunningham Commodities has positioned it firmly in the US futures market, which the company views as a significant growth area.
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The brokerage has also gained attention in the US through a high-profile sponsorship deal with the Chicago Bulls basketball team. This followed the conclusion of their sponsorship with the Spanish football club Athletico Madrid.
Plus500 is expanding its US operations with a mix of B2B and B2C services, offering B2B market infrastructure services to institutional clients in the US futures market.
As reported by Finance Magnates in October, Plus500’s revenue for the third quarter of 2023 was $168.1 million, a 5% increase from the previous quarter but a 14% decrease year-over-year. The company’s trading income for this quarter amounted to $153.7 million.
