Plus500 Forecasts Revenue of $872m for FY2020

Online Contracts for Difference (CFDs) broker Plus500 has issued its trading update for the financial year ended 31 December 2020, revealing a record performance. 

The revenue for FY2020 is expected to be approximately $872m despite the downtown in Q4 which generated a revenue of about only $91m.

Focusing on driving Customer Income, the Customer Income of Plus500 reached the record level of approximately $997m in FY2020 with Q4's $200m. Customer Trading Performance was approximately $125m, which can be mainly attributed to the $109m in Q4. 

Plus500's performance during FY2020 was also marked by the record number of active and new customers. Taking a year-over-year perspective, the company's client deposits and number of New Customers more than doubled in Q4. This was driven by the company's sustained investment in marketing its technology capabilities. Driven by its marketing results, Plus500's EBITDA for FY2020 is expected to be about $515m.