Plus500 praises trading platform as revenue jumps in Q3
Plus500 has cited the ongoing success of its proprietary trading platform as one of the main reasons behind a significant rise in revenue during the three months through to September 30.
Revenue in the third quarter amounted to $80.9 million (€71.7 million), up 44% from the $56.2 million posted in the corresponding period last year.
Plus500 also noted that the number of new customers in the third quarter grew by 15% year-on-year while its number of active customers increased by 21%.
Average revenue per user was also up 19% to $1,534.
The third quarter results mean that revenue for the nine months through to September 30 stands at $207.9 million, up 28% on the $162.4 million posted at the same point in 2014.
New customers increased by 46% to over 69,000, while active customers grew to just over 117,500.
Plus500 said in a statement: “The company's proprietary trading platform has been core to this strong growth, enabling Plus500 to adapt rapidly to changing market conditions and offer customers additional opportunities to trade CFDs.
“The company saw growth from trading in both commodities and equities due to the ongoing market volatility caused by the evolving global macro environment.”
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