Plus500 has reported a record $3.1bn (£2.3bn) in customer deposits, more than double the previous amount, as affluent investors flocked to its share trading app.
The London -based fintech firm revealed that the average deposit held by an active customer stood at $17,250 by the end of the first half of the year, marking a 105 per cent increase compared to 2024, indicating that the company’s strategy to attract higher value investors is yielding results, as reported by City AM.
“The strength of Plus500’s globally diversified multi-asset offering was again evidenced by our accelerated operational, financial and strategic results,” stated chief executive David Zruia.
In a testament to its success, Plus500 issued a $40m special dividend on top of its $35m interim dividend, while also launching a new $90m share buyback programme, bringing its total share buybacks for the year to $200m.
Plus500 global expansion gathers pace
Plus500’s global expansion continues to gain momentum, with the firm posting a 4 per cent rise in revenues to $415m over the period.
This growth has been facilitated by new regulatory licences in the UAE, granted by the Securities and Commodities Authority, and in Canada, granted by the Canadian Investment Regulatory Organization, bringing the group’s total regulatory licences held globally to 15.
The FTSE 250 firm also secured a new commodities licence in Japan, added a new clearing membership to its US futures business and acquired Indian trading business Mehta Equities in March in a $20m deal.
Profit for the period edged up around one per cent to just under $150m.
The total number of active customers for the period climbed two per cent to 180,000.
Plus500 said it was “confident” about the company’s prospects and confirmed that it expected its full year results to be in line with market expectations.
The stock has surged by a third since the start of the year.
