Retail FX and CFD broker Plus500 Ltd (LON:PLUS) today issued a trading update for the financial year ended 31 December 2024.
For FY 2024, the Group reported revenue of approximately $768 million, generating EBITDA of approximately $342 million.
The Group’s financial position remained highly robust and debt-free with cash balances of approximately $900 million as of 31 December 2024.
The Group’s sophisticated and proprietary marketing technologies drove a significant increase in New Customer acquisition during the year, including more than 36,000 New Customers in Q4 2024 alone, which equates to an increase of c.45% versus Q3 2024.
Post the period end, in January 2025, the Group achieved a significant milestone by obtaining a clearing membership with ICE Clear US, a premier global exchange recognised for its innovation and reliability in financial markets. This membership is an important achievement for Plus500, bringing multiple benefits which include enabling the Group to offer additional products to its customers, reducing costs to third parties and bringing new holistic solutions to institutional customers across multiple exchanges.
In January 2025, the Group secured a new licence in the UAE from the Securities and Commodities Authority (“SCA”) allowing it to offer OTC, share dealing, futures and options on futures products. The new licence will enable the Group to enhance its operations within the UAE and to market itself more widely in the region.
During FY 2024, Plus500 announced total shareholder returns of $360.5 million.
The Board looks to the year ahead with confidence as it expects the Group to continue making strong financial and strategic progress alongside delivering further shareholder returns.
Plus500 will publish its Preliminary Results for FY 2024 on Tuesday 18 February 2025.
