Plus500 Announces Financial and Operational Results for Fiscal Year 2023

Plus500, a renowned broker in spread betting and CFDs, has disclosed its financial and operational performance for the fiscal year 2023. The company’s annual revenue was reported at $726 million, marking a decrease of 13% from the previous year’s $832 million. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for FY 2023 were announced at $340 million, a decrease from $454 million in 2022 and $387 million in 2021.

David Zruia, the CEO of Plus500, stated: “The year 2023 marked a period of significant transformation for Plus500. Our dedication to technological advancement and strategic growth into new markets has further established our leadership in the global fintech industry.”

Operational achievements for the year included the addition of 90,944 new clients and an average revenue per user (ARPU) of $3,116. These figures underscore the effectiveness of Plus500’s strategies in acquiring and retaining customers.

The broker also highlighted several strategic and operational milestones, such as increasing its total number of regulatory licenses worldwide to 13. Noteworthy developments featured the expansion of its futures business in the United States, the launch of a new trading platform in Japan tailored for local retail investors, and advancements in the UAE market following a previous acquisition of a regulatory license there.

Further strategic moves included the integration of its US acquisitions and the introduction of ‘Plus500 Futures’ in the US. Plus500’s entry into the Japanese market and the growth in the UAE market, supported by a license from the Dubai Financial Services Authority (DFSA), were significant. Additionally, the company obtained a new regulatory license from the Securities Commission of the Bahamas in July 2023.

Since entering the US market in 2021 by acquiring Cunningham Commodities LLC, Plus500 has been actively enhancing its presence in the American futures market. The company has been developing both its business-to-business (B2B) and business-to-consumer (B2C) offerings in the US, including B2B market infrastructure services for institutional clients, leveraging its Clearing Firm Member status with the CME Group and the Minneapolis Grain Exchange (MGEX).

Financially, Plus500 reported a strong cash position, with balances reaching $900 million as of the end of December 2023. Regarding shareholder value, the company announced returns totaling approximately $350 million through dividends and share buybacks, highlighting its commitment to delivering shareholder returns.