There is some very good news about plus500 share news. Plus500 has recently unfrozen almost 8,500 accounts of their customers while still in its’ quest to satisfy the rules imbedded in anti-money laundering that hugely affected the company’s business operations in the United Kingdom.
To help them achieve this, the company now has more than 40 of their employees focusing their efforts in studying and analyzing their accounts. All in all, the company has been able to successfully free the accounts of 8,457 clients. For all iForex traders, this is certainly very good news to them.
Plus500 share news clients trading again
Based on plus500 share news, there are clients of Plus500 company that have started trading again. This is definitely great news. Of the 8,457 accounts that were recently unfrozen, 5,205 clients have started to trade FXCM once again. However, it is still too early to say if those more than 5,000 clients have achieved any sign of success in their trades after their accounts were unlocked. However, from that amount, 457 have closed their accounts for good.
The problems started when the shares of Plus500 took a drastic drop after its revelation that monitoring body Financial Conduct Authority had commanded the company to freeze the United Kingdom accounts it handles and prevented Plus500 share news from opening new accounts. After the fall of share prices, a review was done and it was discovered that there were problems with the company’s anti-money laundering practices.
iForex and Playtech
One of the companies that tried to take advantage of the Plus500 scenario is the hugely popular gambling software manufacturer, Playtech. The owner, Teddy Sagui made a pitch to take over the troubled brokerage house by offering to take over the company with an amount of 460 million British pounds. The ruling management was about to accept the offer to finalize the Plus500 share news. However, this same offer was not approved by Odey Asset Management, which happens to be the biggest shareholder of Plus500. The reason being is that the offer was too low for the quality of the company.
Odey Asset Management was not satisfied with the 400p per share price tag that Playtech offered. They say that this is way lower than the 750p per share that company used to trade their stocks with just before the review of the Financial Conduct Authority.
To start off, the bid made by Playtech was a very risky move. The reason for this is that the presence of Plus500 in the United Kingdom is not known yet. Lately though, Playtech has all but given up in its bid to take over the company. Whether it will continue to allow Xtrade traders to do their thing or not is something that is still unclear.
However, with the unfreezing being done lately, there are some signs that business might just pick up again for Plus500. If this is an indication that there might still be hope, then it is definitely a good sign. However, things are not going to be easy.