WikiFX Visited Forex Broker Plus500 in Singapore

Broker:Plus500

Visited on:September 20th, 2019

Conclusion:the broker truly exists.

On-the-spot investigation

According to regulation information, the licensed branch of Plus500 in Singapore is located at 1 Temasek Avenue, #18-07 Millenia Tower, and we recently check out on Plus500 at the spot.

We arrived at 1 Temasek Avenue, a grand-looking office building with distinctive features. The striking sign “Millenia Tower” can be seen at the entrance, where 2 security staff were busy checking visitors identities. The building also has an access control system, indicating strict security management.

At the reception‘s, we asked whether Plus500’s office is inside the building, and the receptionist gave a positive answer after verifying our identities. Although we were unable to enter the office without reservation, we confirm that Plus500s branch office in Singapore really exists at the address from regulation information.

Analysis

According to the Global Financial Centres Index 26 (GFCI 26) recently released, Singapore ranks No. 4 among the top 10 financial centers around the world, second to only Hong Kong in Asia. As one of the Four Asian Tigers, Singapore has made globally recognized achievements, and the Monetary Authority of Singapore (MAS) has played a crucial role in helping Singapore to become the worlds top financial hubs. In recent years, the rigorous and efficient regulation mechanism of MAS has greatly improved the local finance environment, which attracts many prestigious financial companies such as Plus500 to expand their business in Singapore.

According to the company‘s official website, Plus500 is a leading CFD service provider that offers trading facilities on shares, forex, commodities and cryptocurrencies, alongside innovative trading technology. Established in 2008 in Australia with main offices in Sydney, Plus500 is listed on the London Stock Exchange and holds licenses from multiple global regulators, including ASIC(Australia)’s MM license, FCA(UK)‘s STP license, FMA (New Zealand)’s STP license, CYSEC(Cyprus)‘s MM license and MAS(Singapore)’s retail forex brokerage license. Per checking MAS website, Plus500‘s regulation information is valid and the company’s Singapore branch is compliant and fully in business.

Conclusion

The WikiFX App shows that Plus500 is currently in valid regulation, holding forex licenses from multiple regulators including FCA (UK), ASIC (Australia) and MAS (Singapore). With a high rating of 9.22 on the WikiFX App, Plus500 is a reliable forex broker that investors can entrust their assets to. Meanwhile, we still suggest investors to remain careful when trading forex and pay attention to asset safety.