A top FX brokerage company recently reported a huge surge in both revenue and new clients. Plus500 released a report that covers the first three months of 2021, which ended on March 31st. The estimated revenue gained during this period is around $203.2 million which is 121 percent more than the revenue of last year’s Q4.
The official announcement also disclosed that in Q1 the number of active users on the broker’s platform has reached 269 743. In Q4 of 2021, this number was 215 305. The end result is 89 406 new traders onboarded by the company in the last quarter.
Plus500’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) spiked at $121.7 in the first quarter of 2021, which is an outstanding progress compared to last year’s $19.9 million in Q4. Moreover, the broker also highlighted its effective share buyback program.
Chief Executive Officer of Plus500 David Zruia commented on the excellent performance of his company, revealing that the sucess was built upon “the strength and agility of our technology and its ability to respond rapidly to market developments, news events, and customer requirements.”
The board of Plus500 revealed that it is confident of its forthcoming fiscal year; the broker is expecting this growth to continue. The organization is confident of its EBITDA and revenue forecast.
Meanwhile in Australia new retail CFD regulations have just been implemented, and Plus500 is expecting this to reflect on future numbers.