Plus500

The company was founded in 2008 by six alumni of the Technion - Israel Institute of Technology with an initial investment of only $400,000.The initial platform was based on a Windows OS. In 2010, Plus500 launched a web based version of its online trading platform, allowing Mac and Linux users to trade online. In 2011, it launched its first app for iPad and iPhone users.In 2012, Plus500 introduced its Android-based trading platform for Android smartphones and tablets.In October 2012, Plus500UK Ltd was fined £205,128 by the FCA failing to report transactions accurately for a year and a half. The company was not able to submit complete and accurate transaction reports because of the absence of appropriate systems and controls, documented procedures, or appropriate training for staff. .In 2013, the company went public on the Alternative Investment Market section of the London Stock Exchange.In 2014, the company launched its Windows app.In May 2015, Plus500 was hit with massive value loss when its stock plunged almost 60 percent due to the company's move to freeze UK based trader accounts. The UK Financial Conduct Authority had ordered Plus500UK to freeze the accounts as part of a review into anti-money-laundering controls. Most customers were able to access their funds within 2 months. The Australian and the Cyprus subsidiaries were not affected.In June 2015, Plus500 agreed to a US$703 million bid from Playtech, an online gambling company that was expanding into trading. However, Playtech walked away from the deal in November 2015 after it failed to get regulatory approval for the takeover.In 2016, the Israeli operating subsidiary of the company, Plus500IL Ltd. was one of a small number of companies to be granted a Trading Arena Licence by the Israeli Security Authority . In that same year, Plus500 released an app for Apple Watch to trade and view account details directly from Apple’s wearable.In early December 2017, Plus500SG Pte Ltd., the Singapore subsidiary of Plus500, was granted a Capital Markets Services license by the Monetary Authority of Singapore for dealing in securities and leveraged foreign exchange trading.In June 2018, Plus500 launched its Economic Calendar, covering major financial events and indicators from all over the world, which are provided by Dow Jones & Company, a subsidiary of News Corp. Plus500’s calendar includes a list of the most highly-affected instruments for each economic event.In July 2018, shares of Plus500 were listed in the main market of the London Stock Exchange and the company joined the UK FTSE 250 index of leading mid-cap listed companies.In 2021, Plus500 named Professor Jacob Frenkel, former Chairman of JP MorganChase International and former governor of the bank of Israel as its new Chairman.In April 2021, Plus500 signed a deal to acquire Cunningham Commodities LLC. and Cunningham Trading Systems LLC. and in July 2021, Plus500 announced completion of Cunningham’s acquisition, a technology trading platform provider that operates in the futures market in the U.S. as part of the company’s global expansion program.In June 2021, Plus500’s new research and development center was opened in Tel Aviv, Israel.In July 2021, Plus500 released its ‘Plus500 Invest’ stock-trading platform, which includes over 2,000 financial trading instruments. In October 2021, a class action was filed against the Israeli subsidiary of Plus500 claiming that the company paused the trading of certain options for 90 minutes, with the aim of preventing Plus500 from incurring losses, violating the Securities Law.In March 2022, Plus500 acquired the Japanese company, EZ Invest Securities - which specialises in the trading of securities and derivatives.In June 2022, Plus500 launched an advertising campaign featuring the Emmy and Golden Globe winning actor Kiefer Sutherland in the United Kingdom, Italy, the Netherlands, Germany, and Australia.In September 2022, Plus500 continued to expand its global footprint by launching TradeSniper, a pioneering Futures trading app tailored for retail U.S. customers.