Plus500 Gears Up The 5 Years Objective

Plus500, an FTSE 250 company listed on the London Stock Exchange market, announced its five-year plan on Tuesday. The company plan targets an incremental annual revenue nearing $500 million within the stated period.

For the brokerage to achieve this goal, it will hugely invest in expanding existing products, strengthening customer engagement, seeking licenses of operation from different jurisdictions, and introducing new products.

The current global business sway and waving market conditions contributed to the set of this objective. Recently, trading platforms have been witnessing a downward trend in trading volume due to the highlighted competition between them.

To avoid this competition turbulence, brokerages are drafting self-tricks that will possibly outsmart their competitors.

Plus500 Undisclosed Tricks

In a virtual meeting chaired on Tuesday, Plus500 CEO, CFO, and other executives aired the company’s market position and the projects underlined to benefit its growth opportunities and technology phase. The move set a straight image of the operations happening and projected to happen in the future.

Plus500 is one of the few publicly listed forex and CFDs brokers in the Middle East. The company closed with a revenue of $511.4million in the first six months of 2022. The revenue figure was an increase of 48 percent as compared to the previous year.

In addition, the EBITDA for the six months ballooned to 63 percent. However, the number of new clients joining the broker and the number of active clients decreased, signaling a crucial factor to discuss.

In the first six months of 2021, Plus500 gained 136,980 new clients whereas, in the same period of 2022, the company only managed 57,275 new clients.

Meantime, Plus500 extended its operations in the United States, a strategy meant to expand its global presence. The company opened new offices in Cunningham and the executives are on the drawing board to smoothen achievable strategies to win US future markets.

In the near future, Plus500 targets to launch a new US retail futures market trading platform. Lately, the company has been re-purchasing its own ordinary shares from the open market. So to report, the company is currently running two parallel buyback programs, one allocated $50 million and the other $55 million.