Plus500's 2022 Revenue Reports See 16% Growth in Revenue

Plus500 has submitted financial statements to the London Stock Exchange, in which an increase in its revenues from $718 million in 2021 to $832 million in 2022 was enclosed. The number went up by 16% compared to that of 2021.

According to the Israel-based broker, the performance was "driven by Plus500's unique proprietary technology stack proposition, which underpins our on-going ability to attract and retain higher value customers over the long term".

In addition, Plus500 declared that it will distribute $100 million to its investors as dividends and final and special share buybacks. The company revealed today that it will carry out a share buyback scheme of $42.4 million for its final program, and a special program of $27.6 million.

It is noteworthy, too, that the group's addition of active accounts decreased, with only 106,000 new accounts added during FY 2022, which is a 46 percent decrease from the previous year's onboarding of 196,336 clients. This resulted in the group's active client base being reduced to 280,000 during the just-ended year, a decrease of almost one third from the 407,000 in 2021.

Last week, the global online CFD broker announced that it has been granted a license from the Dubai Financial Services Authority (DFSA)​, which enables the broker to expand its offering to customers across the high growth market of UAE.