Plus500 Ends Q2 with a 68% Revenue Increase and Plans to Launch a US Trading Platform

The platform's EBITDA increased by 118 percent.

It intends to develop a retail trading platform in the United States in the second half of 2022.

Plus500 ended the second quarter of 2022, between April and June, with $240.5 million in sales, a 68 percent rise year on year.

The period's EBITDA increased by 118 percent to $143.7 million. Furthermore, the EBITDA margin increased to 60% from 46% in the prior year's second quarter.

Last quarter's rise mirrored the broker's success in the first quarter of the current year, when revenue increased by 68 percent quarter over quarter and 33 percent year over year. Furthermore, the broker combined the results of both quarters, concluding the first six months with $511.4 million, a 48 percent increase.

The brokerage company attracted 23,535 new clients in Q2 2022, a considerable decrease from the 47,574 new accounts established in the previous year's second quarter. Furthermore, the number of active clients fell from 209,465 to 145,506.

The quarter's consumer income was $151.8 million, a decrease from $157.7 million. However, client trading income increased to $88.7 million in Q2 2021, up from a loss of $14.7 million in Q2 2021.

“Plus500 continues to outperform in the first half of 2022, fueled by recent strong momentum and the strength of our market-leading proprietary technology,” stated Plus500 CEO David Zruia.

“The Group continues to provide extraordinary levels of returns to shareholders throughout the period, including both recent $60.0m dividend payments and our most recent $105.0m aggregate share repurchase programs, which highlight the Board's opinion of the Company's shares' current value.”

Plus500, which is located in Israel and listed in London, increased its foothold in the US market last year with the purchase of Cunningham. It is now devising tactics to enter the US futures market.

It has already established a critical position as a market infrastructure supplier, and a new US retail futures market trading platform is planned to be launched in the second half of the year.

“We achieved considerable progress in executing on our strategic goals, particularly the huge growth potential in the United States, where we continue to make large investments,” Zruia noted.

WikiFX Plus500

Plus500 received a high rating from the WikiFX app. It is governed by ASIC, CySEC, FCA, FMA, and MAS. Plus500 is licensed by each regulator. Despite the fact that there have been few complaints from traders all across the world, WikiFX feels Plus500 was able to handle the difficulties in a timely manner. More information is available on the Plus500 dealer website.

Licenses

About Plus500

Plus500 is designed for those who want to trade in a broad variety of financial markets with cheap trading expenses and a simple, functioning interface. Plus500's trading platform includes over 2,000 CFDs with reasonable spreads and no fees. This should tempt the experienced trader who prefers to deal manually and believes that the cheaper cost justifies the absence of additional capabilities offered by certain rivals.

Pros

• Access to over 2,000 CFDs

• Simple to use and effective platform

• FCA regulates (U.K.)

• Stop-loss orders that are guaranteed

• Negative balance defense

Cons

• Customer service is inadequate.

• Does not accept customers from the United States.

• A trading platform cannot be used in conjunction with other trading tools or platforms.

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