Plus500 Raises Full-Year Outlook After Q3 Revenue Rises 11%

London-listed broker Plus500 said it expects full-year revenue and EBITDA to exceed current market expectations, upgrading its guidance in a Q3 trading update on Monday. The company had kept its guidance in line with expectations in July.

Q3 revenue rose 11% to $203.2 million, while EBITDA increased 7% to $88.4 million, a 44% margin. New customers jumped 27% to 28,747, and average customer acquisition cost fell 14% to $1,150. ARPU rose 7% to $1,700.

For the first nine months, interest income fell to $32.1 million from $50.7 million a year earlier as rates dropped. Trading income rose to $634.0 million from $547.1 million.

The non-OTC business generated about 16% of revenue and 31% of new customers over the nine months, compared with about 15% of revenue in the first half. Customer segregated funds passed $1 billion.

Plus500 has added Wealthsimple and Nelogica as B2B partners alongside Topstep. It recently agreed to acquire broker-dealers Hedge in the US and Guru in Brazil. Hedge will support a US multi-asset ‘super-app’ due in Q1 2027.