Plus500 Users Count Surges to 121K with Average Deposits Reaching $6,150

Plus500 Ltd reported a strong third-quarter financial performance in 2024, with sales up 11% to $187.3 million. This expansion reflects the company's growing client base and greater trading activity, with total deals rising from 10.1 million in Q3 2023 to a stunning 14.5 million this year.

These results show Plus500's ongoing commitment to improving its platform and growing into new areas, cementing its position as a major player in the global trading industry. This growth has been driven by a 21% rise in new client acquisition year on year, as well as a 17% increase in the average deposit per active customer to $6,150.

Strategic Investments Fuel Continued Growth

Plus500's Q3 results reflect its strategic investments in market development and product innovation. EBITDA totaled $82.2 million, up 2% from the previous year. While the EBITDA margin fell somewhat from 48% to 44%, Plus500 CEO David Zruia stressed that these expenditures are critical to continuing the pace of client acquisition and engagement.

“During the quarter, revenue and EBITDA increased by 11% and 2% year-on-year respectively,” according to Zruia. “Our focus on attracting new customers led to a 21% growth in this area, highlighting the strength of our market position.”

Surge in Trading Volume and Customer Deposits

The company's almost 121,000 active users helped to boost trading activity, with a considerable increase in deals performed throughout the quarter. The average revenue per user (ARPU) climbed by 9% to $1,548, demonstrating the high value that Plus500 customers obtain from its solutions. Meanwhile, the average user acquisition cost (AUAC) increased to $1,527, indicating that the platform's expenditures are paying off.

The company's strong balance sheet, which includes over $950 million in cash reserves while paying out $75 million in dividends and executing a $53 million share repurchase, demonstrates its financial strength and commitment to provide value to shareholders.

Expanding Horizons in UAE and Japan

Plus500's emphasis on worldwide development has resulted in great progress, notably in the UAE, where it was granted a regulatory license in early 2023. The firm is using its position to boost its market share in the Middle East, which offers significant growth prospects.

Plus500 also intends to extend its product offerings in Japan, providing users with a greater selection of asset classes and trading possibilities.

Looking forward, Plus500 anticipates that its financial performance in FY 2024 will be consistent with improved market predictions, preparing the firm for continuing success in a favorable market environment.

$110 Million Share Buyback Program Highlights Strong Financial Position

In keeping with its commitment to shareholder returns, Plus500 has launched a significant share repurchase program of up to $110 million in August 2024. This follows a similar $100 million repurchase earlier this year, which was part of a wider $185.5 million shareholder return program.

Buybacks like this not only increase shareholder value but also strengthen Plus500's financial position.

“The newest share buyback reflects the Group's strong financial position, cash-generative model, and commitment to delivering steady shareholder returns over the medium term,” the organization said.

Plus500 has been permitted to buy up to 5,694,522 shares via this program by March 31, 2025. This repurchase, managed by Panmure Liberum Limited, will enable the business to continue repurchasing shares even while trading is closed.

About Plus500

Plus500 Ltd is a renowned online trading company that specializes in contracts for difference (CFDs) across many asset classes. Plus500, known for its user-friendly interface and extensive product offerings, serves retail consumers all over the world, providing them with a variety of trading choices to participate in financial markets. Its commitment to expansion, innovation, and client satisfaction distinguishes it as a key participant in the competitive financial services industry.