UK’s Plus500 appoints Berenberg bank as joint broker

UK’s Plus500 appoints Berenberg bank as joint broker

- in All News, Forex Brokers

Plus500, a UK-based online forex group, said on Wednesday it has appointed German-based private bank Berenberg as a joint broker, starting immediately. Meanwhile, Liberum, a UK investment banking, sales and trading service provider, remains a nominated advisor and a joint broker to Plus500.

The broker provided no details. Plus500 provides affiliate programs to various partners.

Earlier, both Berenberg and Liberum gave Plus500 a buy recommendation, a type of rating, and a recommended target share price of £8.00 and £7.04 per share, respectively.

Berenberg is based in Hamburg and  offers private and investment banking, corporate banking, and asset management services. The Berenberg group consists of Berenberg Asset Management and Berenberg Capital Markets, both incorporated in the US and serving institutional clients, Swiss-based Berenberg Bank, and Germany’s Berenberg Real Estate Office.

UK-based Plus500 offers trading in forex, options, contracts for difference (CFDs), commodities, indices, and exchange-traded funds (ETFs) in more than 50 countries.. It operates its own online trading platform for CFDs available in over 31 languages on desktop and mobile operating systems. 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).

Source: Plus500

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