Plus500 revenue drops 8% YoY in Q3 2022

Steffy Bogdanova
October 11, 2022 9:15 am

Plus500 has published its financial metrics for the third quarter of 2022. For the period between July and September, the broker recorded $194.5 million in revenue, registering an 8% decline on yearly basis.

The EBITDA for Q3 2022 dropped 21% to $101.8 million. The EBITDA margin came in at 52% compared to 61% in the third quarter of the previous year.

Customer activity

During the third quarter of 2022, the London-listed broker onboarded 23,747 new customers. This 9% lower than the 26,169 accounts added in the third quarter of the previous year. The numbers are also down compared to the previous quarter. Plus500 also reported 134,657 active traders on its platform, down from 166,310 last year.

plus500 revenue

Customer income for Q3 2022 stood at $149.4 million, slightly down from Q3 2021’s $156.9 milllion.

Plus500’s CEO, David Zruia, commented:

David Zruia, Plus500

David Zruia
Source: LinkedIn

Plus500 has continued to outperform in 2022, driven by the power of our market-leading proprietary technology and our on-going ability to attract and retain higher value, long-term customers.

We have made further traction in delivering against our strategic priorities, in particular in starting to access the major growth opportunities available in the US.

Plus500 recently announced its plans of US expansion with its new trading platform for the retail futures market in the US, expected to launch in the second half of the year.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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