As first reported by LeapRate, CFD broker Plus500 (LON:PLUS) has officially achieved its CIF license from Cypriot financial regulatory authority CySec.
Just over one month ago, LeapRate provided an insight into Plus500’s intention to register itself as a market maker in Cyprus, with one of the advantages being that the company could register its CFD clients via the company’s newly established Cyprus operation rather than its UK headquarters in order to maintain low cost of operation.
Plus500 has demonstrated remarkable performance in the advent of having become a publicly listed entity, and post listing on London’s Alternative Investment Market (AIM), largely citing its lean operating model and ability to run an effective global business with minimal fixed costs.
This weekend, the company’s CySec license came into effect and is now listed on CySec’s register of regulated firms in the jurisdiction, having been advised by regulatory consultancy MAP S Platis in obtaining the CySec license.