(Adds background, details on latest trading update)
Nov 20 (Reuters) - Online trading platform Plus500 Ltd said on Tuesday its full-year results would be ahead of market expectations, as strong third-quarter trading spilled over into the final quarter.
“We believe we are in a good position for 2019 and continue to focus on acquiring high-value customers,” Chief Executive Officer Asaf Elimelech said in a statement.
Like its peers IG Group Holdings Plc and CMC Markets Plc, the company has been under scrutiny as regulators tighten rules on products that allow anyone with a bank card to make highly-leveraged bets on financial markets through their apps and online platforms.
However, a European Union ban on selling “binary options” to retail customers will be extended for three months from Jan. 2, the bloc’s securities markets watchdog said earlier this month.
Despite tight regulation, the Israel-based company recently delivered upbeat third-quarter results as it benefited from the rise in volatility, cryptocurrency derivatives and other financial markets.
The London-listed online broker, which sponsors Atletico Madrid, provides an online platform for retail customers to trade contracts for differences (CFDs), which are instruments that facilitate bets on moves in share prices without having to buy the underlying stock. (Reporting by Karina Dsouza and Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair)