Estonian regulator Finantsinspektsioon (FSA) has granted Plus500 a licence to operate in the country.
Through its Estonian based entity Plus500EE AS, the company can now provide various investment services.
The authorisation will allow the firm to accept securities orders and to send them, to execute securities orders in the name of clients or in its own name, and to trade with securities on its own account.
The FSA said:
The company will have the right under the authorisation to accept securities orders and to send them, to execute securities orders in the name of clients or in its own name, and to trade with securities on its own account.
The ancillary services to investment services give the company the right to hold and manage the securities of clients and to provide services relating to foreign exchange if they are linked to the provision of investment services.
Plus500 has named Sigrid Aljas as Chief Executive Officer of the new Estonian business unit.
Kerli Lõhmus has also joined the management board of Plus500EE AS.
