Plus500's 2024 Revenue Exceeds “Market Expectations”: Gains New UAE License

Plus500 (LON: PLUS) revealed today (Monday) that it ended 2024 with revenue of around $768 million and EBITDA of about $342 million. The figures are very impressive as the broker highlighted its “strong financial and operational results [for 2024] with revenue meaningfully ahead of market expectations.”

However, based on the broker's previous results, it generated revenue of $182.5 million in the fourth quarter of 2024, which is marginally lower than the $189.6 million achieved in the corresponding quarter of the previous year. Its latest performance also fell short of the $187.3 million in revenue generated in the third quarter of last year.

Plus500 Boosts Middle East Presence

The Israeli broker announced that it has secured a new licence in the UAE from the Securities and Commodities Authority (SCA) this month. The licence allows the platform to offer contracts for differences (CFDs) instruments in the region.

“The new licence will enable the Group to enhance its operations within the UAE and to market itself more widely in the region,” the broker noted.

This is the broker’s second licence in the Middle East, as it already holds one from the Dubai Financial Services Authority (DFSA). Plus500 is also regulated in the UK, Cyprus, Australia, New Zealand, South Africa, Singapore, Israel, Seychelles, Estonia, Japan, and Indonesia.

The London-listed broker expanded into the United States in 2021 by acquiring a local futures trading platform.

In addition to the new UAE licence, Plus500 obtained clearing membership with ICE Clear US, enabling it to offer additional products to its customers in the United States. This move allows the broker to reduce costs associated with third parties and provide new solutions to institutional customers.

Attracting New Customers

The broker’s latest announcement highlighted that it onboarded more than 36,000 new customers in the last three months of 2024, representing a quarter-over-quarter increase of about 45 per cent.

“As the Group has consistently demonstrated historically, current customer acquisition lays the foundation for future performance, making it an investment in Plus500's medium to long-term growth,” the broker added.

Additionally, the broker remains debt-free and held about $900 million in cash balances at the end of 2024. It also distributed $360.5 million to its shareholders through buybacks and dividends last year.

For the rest of 2025, Plus500 plans “to continue executing against its strategic roadmap of expanding into new markets, developing new products, and deepening engagement with customers, in turn driving growth and shareholder value.”