Plus500 Q2 revenue jumps 68%, company launches U.S. trading platform - TopForex.Trade

Plus500 Q2 revenue jumps 68%, company launches U.S. trading platform

Plus500 ends the second quarter with 68% revenue growth and plans to launch a retail trading platform in the US in the second half of 2022.

Plus500 ended the second quarter of 2022, between April and June, with $240.5 million in revenue, up 68% year-over-year.

EBITDA for the period rose 118 percent to $143.7 million. In addition, EBITDA margin increased to 60 percent from 46 percent in the second quarter of the previous year.

Last quarter’s growth mirrored the broker’s performance in the first quarter of this year, with revenue up 68% quarter-on-quarter and 33% year-over-year. The broker summarized the results of both quarters, ending the first six months with $511.4 million, up 48%.

The brokerage group attracted 23,535 new clients in the second quarter of 2022, down from 47 574 new accounts added in the second quarter of the previous year. In addition, the number of active customers decreased to 145 506 from 209 465.

Customer revenue for the quarter was $151.8 million, up from $157.7 million. However, client trading revenue was $88.7 million due to a $14.7 million loss in the second quarter of 2021.

 

Trade popular financial instruments with Plus500 

 

“Plus500 continued to outperform in the first half of 2022, supported by positive momentum achieved in recent years and by the power of our market-leading proprietary technology,” said Plus500’s CEO, David Zruia.

“The Group continued to deliver outstanding levels of returns to shareholders during the period, through both recent $60.0m dividend payments and our most recent $105.0m aggregate share buyback programs, which emphasise the Board’s view of the current value of the Company’s shares.”

Further US expansion

Plus500, headquartered in Israel and listed in London, already acquired Cunningham last year. The company is now working on a larger presence in the US futures market.

The company has already established itself as a market infrastructure provider and is expected to launch a new trading platform for the US retail futures market in the second half of the year.

“We made significant progress in delivering against our strategic priorities, in particular the major growth opportunities in the U.S., where we continue to make substantial investments,” Zruia added.

 

Subscribe for our newsletter

Get Forex brokers reviews, market insights, expert analytics and education material right into your inbox for free!

You can unsubscribe any time by clicking the link in our letters.