Plus500 has published a trading update and continues to excellent performance in H2 2020, driven by its outstanding performance this year.
16 September 2020 | AtoZ Markets – Plus500 is a retail CFD trading broker. Its services are available internationally across the United Kingdom, Australia, the European Economic Area (EEA), and the Middle East, and have customers in more than 50 countries. The broker is regulated by many major regulators, including FCA in the United Kingdom, ASIC in Australia, CySEC in Cyprus, ISA in Israel, FMA in New Zealand, FSCA in South Africa, MAS in Singapore, and FSA in Seychelles.
The market saw an outstanding performance from Plus500 in this year. Plus500 reported total revenues of $ 564.2 million in H1 2020. Total revenue increased significantly by 281% compared to last year. Plus500 has recorded unprecedented levels of new and active customers in 2020. The broker noted $ 1,653.4 million in customer deposits in H1 2020, up 254% YoY.
Plus500 Sees Further Growth In Performance During H2 2020
Plus500 Ltd said it was confident in its outstanding performance so far this year. The broker hopes to see further growth in H2 due to its investment in marketing technology, mobile, and tablet devices.
The broker reported that customer revenues have been strong so far in the second half of the year. It has made good progress on all major commercial and financial goals. Plus500 said in its statement:
“Plus500 remains well placed to deliver sustainable future growth, given its proprietary technology, flexible and scalable business model, strong financial position, and a track record of delivery against key performance metrics. While market conditions remain uncertain, macroeconomic and sector-specific newsflow continues to provide significant trading opportunities for customers. Therefore, the Board remains very confident about the outlook for Plus500, particularly given the Company’s outstanding performance so far this year.”
Plus500’s first-half business grew rapidly during the Covid-19 crisis as customers trade in a highly volatile market. The broker plans to announce the Q3 2020 financial results on October 27, 2020.
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