Plus500 Issues Trading Update on Performance in Q1 2021

Plus500, a retail Forex and CFDs broker, issued a trading update on its performance in Q1 2021 ahead of the company's extraordinary general meeting (EGM) today.

According to the trading update, client trading activity during Q1 2021 has remained strong, supported by continued outperformance of Customer Income, which is tracking ahead of Q4 2020.

The company stated that FY 2021 revenue will be driven through the continued underlying growth of Active Customers, its on-going success in attracting and retaining New Customers and supportive market conditions. 

It added that FY 2021 EBITDA will be supported by the broker's lean, flexible cost base and efficient business model, with continued investment in marketing technology to capture opportunities to drive attractive return-on-investment over time.

Shares of Plus500 reacted positively to the trading update, with LON:PLUS trading up by more than 3% in early Tuesday activity.