Brokerage Watch: iFOREX Revives IPO Plans; Plus500 Executives Offload £67M Stake

The retail Forex brokerage sector is witnessing divergent equity narratives this week, characterized by renewed public listing ambitions from one major player and significant insider liquidation at another.

Market Snapshot

• Plus500 (LSE: PLUS) selloff magnitude: 10%
• Total insider disposal value: £67.1 million
• Disposal price per share: 4,430 pence
• iFOREX IPO target admission: late February 2026

iFOREX Targets London Float

iFOREX Financial Trading Holdings Ltd. has confirmed that its initial public offering (IPO) on the London Stock Exchange is now at an “advanced stage,” with admission expected in late February 2026. This marks a resumption of plans previously postponed in June 2025 due to compliance reviews in the British Virgin Islands.

Shore Capital is acting as the sole bookrunner for the flotation. The resuscitation of the IPO suggests confidence in the sector's valuation, despite the firm warning that the process remains subject to market conditions and final regulatory approval.

Plus500 Shares Tumble on Insider Selling

Conversely, shares in Plus500 (LSE: PLUS) plummeted up to 10% on Tuesday after key executives, including CEO David Zruia and CFO Elad Even-Chen, sold a combined £67.1 million in stock.

The transaction saw the disposal of 1.5 million shares at 4,430 pence—a liquidation of positions held since the broker's 2013 IPO. While the executives remain locked up for a further 365 days, the scale of the sale, coming shortly after the allocation of deferred bonus shares, triggered immediate bearish sentiment in the market.

Despite the selloff, Plus500 maintains strong fundamentals, having recently launched a $100 million buyback program and reported record customer deposits. However, the optics of heavy insider selling often weigh on short-term investor confidence regarding the sector's growth ceiling.