Online trading broker Plus500 said its revenue increased sharply in H1 2020 as investors encouraged to place bets due to increasing market volatility. Plus500 has permanently appointed interim CEO David Zruia.
07 July, 2020 | AtoZ Markets – Plus500 is a CFD provider that offer trading services including shares, forex, crypto, indices, commodities, ETFs and options. The company is a UK based company with main offices in London. It is licensed and regulated by UK regulator FCA.
Plus500 Revenue Surge in Lockdown
Plus500 achieve a record high number of active customers and nearly a four-fold increase in revenue in H1 2020. Its revenue almost quadrupled to £564.2 million ($740.4 million) in H1. It continued to have strong trading volumes in the financial markets during the coronavirus crisis. It was $148 million in the H1 2019.
Plus500 got 198,176 new customers in the H1 2020. It was 47,540 in H1 2019. It also hit a record level of customer revenue in the H1, at $556.9m, from $175m in the same period last year. The company said:
“The consistently high level of quality and performance of Plus500’s market-leading proprietary technology platform and the continued dedication and hard work of our employees in extremely challenging circumstances ensured that customer retention remained strong.”
Plus500 has also appointed David Zruia as permanent CEO. Zruia had been interim Chief Executive Officer since April 20, after previous CEO Asaf Elimelech resigned immediately. Asaf retired after more than four years of steering the company. He led the company in times of turbulence and regulatory changes. David Zruia said:
“Having been part of the Plus500 team for almost ten years, I am honour to become CEO of the Company. It has been exciting to lead the business on an interim basis over the last few months. I believe that Plus500 is in an extremely strong position, both operationally and financially, to deliver future growth for our shareholders.”
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