Plus500 shatters expectations with 2023 revenue soaring to $725M, eclipsing market projections - TopForex.Trade

Plus500 shatters expectations with 2023 revenue soaring to $725M, eclipsing market projections

London-listed trading platform Plus500 (LON: PLUS) defies expectations, reporting a staggering $725 million in annual revenue for 2023, alongside an EBITDA of $340 million. These figures far surpass the market’s earlier projections of $645 million and $300 million, respectively. Despite a dip in the first half, Plus500 rebounded in Q4, concluding the year with a robust balance sheet and cash reserves of $900 million.

08.01.2024, 08:33
Forex trading Plus500
95
Min. deposit
100$
Max. leverage
1:30
Bonus
Used by
430000+
Min. Spread
Variable
Trading platforms
Own Platform
Web Platform
MetaTrader 4
MetaTrader 5
Deposit methods
Trustly, iDEAL, PayPal, Klarna, Credit/Debit Cards, Skrill
Regulated by
MAS
FCA
FSA Seychelles
CySEC
ASIC
Plus500 shatters expectations with 2023 revenue soaring to $725M, eclipsing market projections

Plus500, the London-listed trading platform (LON: PLUS), surprised the market with its 2023 financial results, revealing a robust annual revenue of $725 million and an EBITDA of around $340 million. Both figures significantly surpassed the market’s earlier expectations, which had predicted revenue and EBITDA of $645 million and $300 million, respectively. The company, which initially anticipated aligning with market projections, closed the year with a strong balance sheet, boasting approximately $900 million in cash balances.

95
Min. deposit
100$
Min. Spread
Variable
Bonus
Max. leverage
1:30
Used by
430000+
Trading platforms
Own Platform
Web Platform
MetaTrader 4
MetaTrader 5
Deposit methods
Trustly, iDEAL, PayPal, Klarna, Credit/Debit Cards, Skrill
Regulated by
MAS
FCA
FSA Seychelles
CySEC
ASIC
95
Min. deposit
100$
Max. leverage
1:30
Bonus
Used by
430000+
Min. Spread
Variable
Trading platforms
Own Platform
Web Platform
MetaTrader 4
MetaTrader 5
Deposit methods
Trustly, iDEAL, PayPal, Klarna, Credit/Debit Cards, Skrill
Regulated by
MAS
FCA
FSA Seychelles
CySEC
ASIC

Contrary to a 28 percent decline in revenue during the first half of the year, with $368 million generated, the broker concluded the fourth quarter with a noteworthy $188.9 million in revenue. As reported by Finance Magnates in the third quarter, Plus500 achieved $168.1 million in revenue and an EBITDA of $80.3 million.

 

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Notably, Plus500 is actively expanding its footprint in the US and other markets. The company’s focus on the US market is evident through its substantial sponsorship agreement with the Chicago Bulls, a prominent basketball team. In addition to this, Plus500 is diversifying its US operations by providing both B2B and B2C services. The company emphasizes its B2B market infrastructure services tailored for institutional clients in the US futures market.

Plus500