The family retirement fund of the chief executive of Plus500 in Australia has bought a stake worth nearly £31,000 in the London-listed group.

In a stock market update this morning, the Scarf Family Superannuation Fund purchased 1,000 shares in the business, at a price of £30.80 each. That amounts to a stake worth £30,800.

Nicholas Scarf has been the CEO of Plus500AU since May this year, prior to which he was the chief operating officer of Marex for Australia and New Zealand.

Scarf started his career at Aussie futures broker L Quay Futures and went on to hold roles at Merrill Lynch, TransMarket Group, and BrokerOne.

He is closely associated with the Scarf Family Superannuation Fund, under Financial Conduct Authority rules, which was the reason for the disclosure.

LinkedIn data suggests Plus500 only has about 10 employees in Australia, with most of those people in compliance and finance roles.

In 2024 the company generated $51.4m from its subsidiary in the country, however.

Earlier this month, TradeInformer exclusively reported that Plus500 has been in talks to acquire prop firm Topstep.

Based in Chicago, Topstep was the first company to run large scale funded trader accounts model. 

The company was set up by ex-futures trader Michael Patak in 2009 and offers traders access to funded futures accounts.