Plus500 US Unit Becomes Member of FIA

The US arm of Plus500 has strengthened its presence in the US by becoming a leading member of the Futures Industry Association (FIA). Before the membership, the broker entered the US market a few years ago through an acquisition.

Founded in 1955, the FIA represents the interests of the futures, options, and derivatives markets, including futures commission merchants and principal traders. The broker joined other clearing firms, exchanges, clearing houses, trading firms, and commodity specialists by becoming a member of the FIA.

The CEO of Plus500, David Zruia, highlighted that the FIA membership represents “the Group's continued execution against our strategic roadmap in the US.” He added: “Our membership of this highly respected, leading global organization represents another milestone for Plus500 as we harness our differentiated technological capabilities to seize the compelling growth opportunities in the US futures market.”

Listed in London, this Israeli broker is known for providing retail trading services in forex and contracts for difference (CFDs) instruments. In the U.S. market, it made a name for itself in the futures market through the acquisition of Cunningham Commodities, which, according to the company,  “represents a major multi-year growth opportunity.”

In addition, Plus500 is diversifying its US business through B2B and B2C offerings. According to the company, it provides B2B market infrastructure services for institutional clients in the US futures market.

As reported in October, the brokerage firm ended the third quarter of 2023 with revenues of $168.1 million, up 5% from the previous quarter but down 14% year-over-year. For the three months, the company reported trading revenue of $153.7 million.

(Source: Finance Magnates)