CFD trading platform Plus500 issued a trading update ahead of its Annual General Meeting (AGM) reporting continued good performance for the second half of the year.
The momentum the platform gained in H1 2020 has continued through H2. The company reported that its good performance has been driven by the strength and differentiation of the its proprietary technology.
The Times today reported that amid the strong performance reports, the Israel-based online trading broker is facing pushback from investors for its $1.2 million bonuses planned for its management team.
Plus500 is seeking approval for an annual special bonus for the Group CFO Elad Even-Chen form the shareholder meeting held today. If approved, Even-Chen will receive $1.23 million on top of his pay package.
However, the two leading advisory bodies Institutional Shareholder Services and Glass Lewis, both recommended that the shareholders vote against the bonus.
Plus500 reported that revenue has remained strong and in particular Customer income has been stable and supported by further growth in the Company’s Active Customer base. Onboarding high-level new clients has also gone well in the second half, powered by continued investment in Plus500’s marketing technology, rapid response to market events and attractiveness of the Group’s market-leading mobile and tablet offering.