Plus500 Reports Strong Q3 Performance with Increased User Engagement and Revenue Growth

Plus500 Ltd has announced notable growth for the third quarter of 2024, as the online trading platform recorded revenue of $187.3 million, marking an 11% rise compared to the same period last year. This growth is attributed to a substantial increase in new customer acquisitions, which surged by 21%, contributing to an active user base that has now reached approximately 121,000.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to $82.2 million, reflecting a 2% increase year-over-year. However, the EBITDA margin saw a slight decline, dropping from 48% to 44%, as Plus500 continued to invest strategically in market expansion and product development.

Trading activity among customers was robust, with total trades reaching 14.5 million during the quarter, a significant increase from 10.1 million in Q3 2023. Moreover, the average deposit per active user rose 17% to $6,150, indicating growing confidence among traders.

​David Zruia, CEO of Plus500, remarked on the positive trend, stating, "Our investment in attracting new clients has clearly paid off, with both revenue and customer acquisition demonstrating strong year-on-year growth."

The company maintains a solid financial position, with cash reserves exceeding $950 million, even after returning approximately $75 million to shareholders through dividends and repurchasing shares worth $53 million. Plus500 has also initiated a new share buyback program valued at up to $110 million, enhancing shareholder value as part of its broader return strategy.

Looking ahead, the board expects the full-year performance to align with elevated market forecasts, reinforcing the company's strategic focus on growth in both established and emerging markets.