Plus500 (LSE: PLUS) reported approximately half of its OTC revenue in 2025 came from customers who have been trading on the platform for more than five years, doubling the 24 percent share recorded three years earlier.
The disclosure appeared in the company's year-end trading update today (Monday) and marks a rare public metric for a CFD broker, an industry historically questioned over short customer lifecycles and churn.
The London-listed fintech posted revenue of roughly $792 million and EBITDA of around $348 million for the year ended December 31, both ahead of Bloomberg consensus estimates of $757.7 million and $345.8 million respectively.
Three years ago, customers trading for more than five years contributed just under a quarter of OTC revenue. By last year, that figure had climbed to 50 percent.
Customer Base Shrinks, But Quality Improves
Plus500 onboarded about 104,500 new customers during 2025, down from 118,010 the prior year. Active customers declined slightly to approximately 242,000 from 254,138 in 2024. However, the company's average user acquisition cost fell by more than 10 percent year-over-year.
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The company ended the year with cash balances of roughly $800 million and no debt, after distributing about $380 million to shareholders through dividends and buybacks. Plus500 allocated $200 million to share repurchase programs during the year, bringing total shareholder returns to $365 million.
On a constant currency basis, Plus500's EBITDA for 2025 was approximately 8 percent higher than the prior year. The company maintained an EBITDA margin of around 44 percent.
Two B2B Deals in US Futures Space
Plus500 secured clearing partner status for the CME Group and FanDuel prediction market platform, which went live last month. The fintech will provide brokerage execution and clearing services for FanDuel Prediction Markets, operating as the infrastructure layer behind event-based contracts targeting US retail customers.
The arrangement with CME and FanDuel followed an October partnership with Topstep, a Chicago-based trading education and evaluation platform. Under that deal, Plus500 acts as the exclusive provider of clearing and technology infrastructure for Topstep Brokerage.
Both partnerships position Plus500 as a B2B infrastructure provider in the US futures market, an area the company has targeted for expansion. The broker is a clearing member of CME Group Exchanges and Kalshi Exchange.
Geographic Expansion Continues
Plus500 secured new regulatory licenses in the UAE and Canada during 2025 and received authorization from the Colombian Financial Superintendence to establish a representative office, marking the company's first entry into Latin America. The group now holds 16 regulatory licenses globally.
The broker previously became a clearing member of ICE Clear Europe, allowing it to offer access to European energy and carbon derivatives markets.
Plus500 plans to publish its full preliminary results for 2025 on February 9.
