Online service provider for trading CFDs, Plus500 issued a trading update, reporting persistent heightened levels of market volatility.
Plus500 reported continued record levels of customer trading activity in the fluctuating market. The Company’s financial and operational KPIs performances remained strong. Group continued to attract significant numbers of new customers and registering increased levels of activity among existing customers. Plus500 trading platform reported 100,574 new customers since the start of Q2, which is already ahead of expectations for the entire quarter and 21.2% more than the 82,951 new customers added in Q1.
Customer income revenue remains high with $249 million generated in Q2 so far. The total revenue for Q2 to this date is $102.5 million. The board expects the Customer Trading Performance to be natural over time as the current aggregate numbers represent insignificant proportion of revenue over many years historically.
Plus500 reported a significant increase in net client deposits, currently at approximately $488.4 million, three times the level as at 31 December 2019.