Plus500 says 2022 revenue to be ‘significantly’ ahead of analysts’ estimates

abdelaziz Fathi

Israeli-based, but London-stock market listed Plus500 said it expects annual revenue and earnings to be ahead of analysts’ estimates even as trading levels normalised from record volumes in the first quarter.


Plus500’s board now expects FY 2022 revenue and EBITDA to be ‘significantly’ ahead of current compiled analysts’ consensus forecasts, which were recently upgraded following the company’s Q1 2022 results. It added that its financial position remains “very robust” and the group continues to be debt-free, with healthy cash balances driven by high levels of cash generation.

In April, the group reported that its revenue between January and March were $271 million, up by almost two thirds from $161 million in the fourth quarter of 2021.

The pattern was much the same for its core profits. At the bottom line, the spread betting and CFDs broker told investors that it earned $161 million in Q1 2022’s EBITDA, which was also higher by a third from $121 million in Q1 2021. Compared to the previous quarter, the figure shot up by 130 percent when weighed against $71 million in the three months through December 2021.

Plus500 enters new markets

“The Group’s strong performance so far in FY 2022 has also been driven by the development of new proprietary technologies and product offerings, which will deliver growth and drive expansion and diversification across new geographies. Furthermore, Plus500 will continue to build its strategic position as a global multi-asset fintech group, through organic investments and by actively targeting acquisitions, to help deliver sustainable growth over the medium to long term,” the statement further reads.

The company attributes its optimistic forecasts to a growing customer base, which is beginning to increase again after the Covid-19 had a mixed impact on its onboarding levels throughout the year.

Notably, the group continued to add more active accounts, saying that they had seen increased levels of trading activity in the third quarter, and that revenue from customer income had been strong.

In its filing to the stock exchange, Plus500 highlighted the progress it made against the group’s strategic roadmap including obtaining a license in Estonia to operate as an investment firm under the brand ‘Plus500EE AS.’

Plus500 also acquired the Japanese FX firm, EZ Invest Securities, in a move that allows the multi-regulated brokerage firm to offer its service in the Asian country. Further roll-out of ‘Plus500 Invest’, the group’s proprietary share dealing platform, remains on track, it added.

Read this next

Industry News

Playtech to close Finalto sale to Gopher in two weeks

Playtech, the London-listed gambling software developer, today said it expects to close the divesting of its financial trading division Finalto by mid July 2022.

Retail FX

eToro valuation halved as SPAC merger deadline expires

The deadline for the completion of the SPAC merger of eToro had passed yesterday, June 30, and the Israeli broker apparently canceled the deal with Betsy Cohen-backed blank-check firm.

Institutional FX

FXSpotStream reports second best figure for monthly volumes

Trading volumes on institutional FX platforms surged in June after fears over the impact of Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Retail FX

Vantage expands MT5 offering with access to new stocks

ASIC-regulated foreign exchange brokerage Vantage has expanded its service offering and trading products by incorporating new markets, namely 14 exchange-based stocks on MetaTrader 5.

Digital Assets

CFTC charges $1.7 billion Bitcoin scam, largest to date

Mirror Trading accepted at least 29,421 Bitcoin from approximately 23,000 investors from the United States and even more throughout the world.

Retail FX

Spotware Systems upgrades cTrader Desktop to version 4.3

Spotware Systems, a technology provider for the electronic trading industry, has launched an updated version of its cTrader Desktop, which adds new functionality to join a roster of advanced trading capabilities.

Digital Assets

OKX launches Block Trading for tighter pricing

With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.

Industry News

Interactive Brokers pays $1 million to settle with CFTC

Interactive Brokers overcharged its customers a total of $710,828.14.

Metaverse Gaming NFT

DappRadar launches cross-chain token staking

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.