Plus500 revenue grows 68% in Q1 2022 to $270.9 million

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="plus500 revenue" style="float: left; margin-right: 5px;" link_thumbnail="" loading="lazy" srcset="https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/04/plus500-revenue.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><h3>Customer growth and expansion</h3>
<p>During the first three months of the year, the London-listed broker onboarded 33,740 new customers. This is marginally higher than the previous quarter, when the number of customers fell but 62% lower than the Q1 2021. Plus500 also reported 176,642 active traders on its platform.</p>
<p>The average revenue per user increased 64% Q-o-Q to $1,534.00. This was also 104% up from the same quarter of the previous year. The average acquisition cost in Q1 2022 was $1,416.00, 6% down from Q4 2021 but with a 199% rise compared to Q1 of 2021.</p>
<p>Client deposits on the trading platform reached $0.6 billion during the last three months compared to $0.5 billion in the last quarter of 2021.</p>
<p>The forex and CFDs trading provider has also been focusing on expansion of its global reach. Earlier in February, <a target="_blank" href="https://www.leaprate.com/forex/executives/plus500-announces-changes-to-its-board-varda-liberman-joins-as-a-non‐executive-director/" rel="noopener">Plus500</a> secured a <a target="_blank" href="https://www.leaprate.com/forex/brokers/plus500-secures-estonian-license-from-fsa/" rel="noopener">regulatory license in Estonia</a> and in March the broker entered Japanese retail trading market with the <a target="_blank" href="https://www.leaprate.com/forex/institutional/plus500-enters-japanese-retail-trading-market-with-acquisition-of-ez-invest/" rel="noopener">acquisition of EZ Invest.</a></p>
<p>Zruia commented:</p>
<div><img aria-describedby="caption-attachment-433335" class=" wp-image-433335" src="https://www.leaprate.com/wp-content/uploads/2020/08/David-Zruia.jpg" alt="David Zruia, Plus500" width="114" height="114" srcset="https://www.leaprate.com/wp-content/uploads/2020/08/David-Zruia.jpg 400w, https://www.leaprate.com/wp-content/uploads/2020/08/David-Zruia-150×150.jpg 150w, https://www.leaprate.com/wp-content/uploads/2020/08/David-Zruia-50×50.jpg 50w, https://www.leaprate.com/wp-content/uploads/2020/08/David-Zruia-245×245.jpg 245w" sizes="(max-width: 114px) 100vw, 114px" /><p>David Zruia<br />Source: LinkedIn</p></div>
<blockquote><p>Our ongoing investments in developing our position as a global multi-asset fintech group will enable future growth. In particular, we continue to make organic investments in technology, marketing and our people, as well as actively targeting additional acquisitions and initiating potential strategic partnerships.</p></blockquote>
<p>The company also talked about its outlook:</p>
<blockquote><p>At the current time, the Board anticipates that revenue for FY 2022 will be ahead of current market expectations and continues to expect that Plus500 will deliver sustainable growth from all of the Group’s product offerings over the medium to long term.</p></blockquote>
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