Plus500 Ends FY 2020 with 146% Gain in Revenue

​Online contracts for differences (CFDs) broker Plus500 has published its preliminary results for the year ended December 31, 2020, revealing an excellent uptick across all key metrics.

As the strong performance achieved by the company in the first 6 months of the year continued in the second half, Plus500 saw a 146 percent surge in its total revenue, which came in at $872.5m. The figure for the prior year was $354.5m. In addition, the London listed broker's Customer Income, a key growth metric, jumped 161% to a record level of $997.5m from FY 2019's $382.4m, and its EBITDA (Earnings before interest, taxes, depreciation and amortisation) was $515.9m, up 168% compared to $192.3m in 2019.

In FY 2020, Plus500 onboarded a total of 294,728 new customers due to its significant on-going investment in marketing technology. This number only came at 91,388 in FY 2019. Additionally, the number of Plus500's active customers increased to 434,296 from FY 2019's 199,720. As a result of the significant increase in active customers, the Israel based broker's Customer Churn in FY 2020 was reduced to 30.1% from 64.4% in FY 2019.

The broker's client deposits in the year were $2.9bn, while a year ago they were $1.0bn. Its average deposits per active customer also soared to $6,586 from $5,116 in FY 2019.