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Plus500 unit gets license to operate in Singapore

The Monetary Authority of Singapore granted Plus500 Ltd. unit Plus500SG Pte. Ltd. a license for dealing in securities and leveraged foreign exchange trading in the country.

The company said the move reflects its scalability from a business and regulatory standpoint, and is in line with its strategy to add new licenses to expand its customer base globally and diversify its geographical revenues.

Plus500, which is headquartered in Israel and listed on the London Stock Exchange's AIM, operates an online trading platform for retail customers to trade contracts for difference internationally.