CFD and forex broker, Plus500 has announced its third quarter trading update. During the period, Plus500 reported revenues of $20,009,000, 67% above the same period last year. Overall, for the first nine months, revenues totaled $64,682,000, 52.7% above 2012’s figures. While the numbers were strong when compared to the same period last year, third quarter results showed a slowdown in activity versus the first half of the year. During the first half of 2013, Plus500 had average quarterly revenue of $22.35 million, nearly 12% above third quarter results. The decline in revenues though, mimicked a drop in overall market volumes as volatility fell.
In addition to the revenues figures, Plus500 reported that the broker had 37,000 active customers, with 12,658 being newly activated accounts. Another important statistic that was reported was average user acquisition cost, which came in at $632. The figure was flat compared to 2012, but well below costs from earlier in the year.
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Plus500 also stated that they continue to focus on expanding their “geographic footprint”, specifically mentioning Australia and the European Economic Area (EEA). The broker also stated that it expects full year results to exceed expectations, with the board committed “to pursuing a progressive dividend policy.”
Reacting on the results and positive forecasts, shares of Plus500 are rallying and hit an all-time high of 149.00p, rising 20% from yesterday’s close.