Plus500 shares stumble despite boast of continued ‘outstanding’ trading

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Plus500 Ltd (LON:PLUS) boasted of a continued “outstanding performance” into the second half of the year.


Without going into any numbers, the online CFD, forex and crypto trading broker said revenue had remained “strong” since the start of July, particularly customer income.


There has been “further growth” in the number of active customers, with a “high level” of newcomers on-boarded so far in the second half, driven by investment in marketing.


The Israel-headquartered company said use of its platform “remains at elevated levels” and customer deposits “continue to be very robust”.


Management are confident that the FTSE 250 group can deliver sustainable future growth, saying: “While market conditions remain uncertain, macroeconomic and sector-specific newsflow continue to provide significant trading opportunities for customers.”


“Therefore, the board remains very confident about the outlook for Plus500, particularly given the company’s outstanding performance so far this year,” echoing comments from the first-half results.


Shares in the company fell 1% to 1,486.5p in early trade on Wednesday, having risen more than 70% since the start of the year.

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