Do not invest more money than you can afford to lose.
Odey Asset Management, the hedge fund that is among the larger stakeholders in the London Stock Exchange (LSE)-traded UK forex broker Plus500 (LON:PLUS), informed it has sold 1% of its shares.
In a regulatory notice to the LSE Odey has announced it currently holds 26 364 889 shares, or 22.95% of them. At market close price on April 7, when the transaction took place, the hedge fund’s remaining shares in Plus500 cost nearly GBP 166.1 million.
Besides Alon Gonen, the founder of Plus500 and Odey Asset Management, other major shareholders are JP Morgan Chase and Morgan Stanley.
Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs). It operates its own online trading platform for CFDs available in over 31 languages. It operates its own online trading platform for CFDs available in over 31 languages on desktop and Android, Windows and iOS mobile operating systems.
According to Investment Trends report from July 2015, Plus500 is the second largest CFD provider in the UK. It is licensed by three regulators – the Cyprus Securities and Exchange Commission (CySEC), UK’s Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC).