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RNS News Service

I confirm that I am accessing this story in my capacity as a private investor and NOT for professional purposes.

Trading Update

RNS

RNS Number : 1651T
Plus500 Limited
02 July 2018
 

 

2 July 2018

Plus500 Ltd

("Plus500", "the Group" or "Company")

 

Half Year Trading Update

Notice of results

 

Plus500, a leading online service provider for trading CFDs internationally is pleased to announce that due to a strong Q2, the Board has again materially increased its expectations for the Group's financial performance for the year ending 31 December 2018.

Although, as previously reported, market conditions for trading volumes and new customer acquisition returned to more normal levels in Q2 in comparison with Q1, geopolitical events particularly regarding US import tariffs have resulted in higher than expected levels of market volatility. This has resulted in a strong trading performance in the period.

Following the recent regulatory changes announced by ESMA, due to be implemented by August 2018, Plus500UK and Plus500CY began evaluating their respective customer bases regarding Elective Professional Client ("EPC" status in February 2018 and consider 12 per cent. of its customers in the EEA may be eligible for EPC status. Given that this 12 per cent. generate in aggregate approximately 75 per cent. of the Group's EEA revenue, the Board believes that the Group's EPC offering puts it in a strong position to maintain revenue from those customers following the implementation of the new ESMA rules. As previously disclosed, the Group's performance could be impacted by the rate at which customers request to be reclassified, and are accepted, as elective professional clients.

At the same time, the Group continues to diversify those revenues which are outside the EEA, reflecting its new licences, especially in Singapore, which was gained towards the end of 2017. 

Notice of results

The Company expects to issue its half year results for the six months ended 30 June 2018 on 13 August 2018.

Asaf Elimelech, Chief Executive Officer, said:

"Plus500 has performed strongly in the half year period and we are pleased to announce a material increase in expectations for the full year. Despite more normal trading conditions, we continue to benefit from new customers acquired over recent periods trading a wide range of instruments." 

 

For further details:

Plus500 Ltd

Elad Even-Chen, Chief Financial Officer

ir@Plus500.com

Tel: +972-4-8189503

 

Liberum - joint broker

Clayton Bush, Neil Elliot, Josh Hughes, William Hall

Tel: 020 3100 2222

Berenberg - joint broker

Chris Bowman, Mark Whitmore

Tel:  020 3207 7800

MHP Communications

Reg Hoare, Tim Rowntree, Kelsey Traynor

plus500@mhpc.com

Tel: 020 3128 8100

About Plus500

Plus500 operates an online trading platform for individual customers to trade CFDs internationally over more than 2,200 different underlying global financial instruments comprising equities, indices, commodities, options, ETFs, cryptocurrencies and foreign exchange. Individual customers of Plus500 can trade CFDs in more than 50 countries and in 32 languages. The trading platform is also accessible from multiple operating systems (Windows, smartphones (iOS, Android and Windows Phone), tablets (iOS, Android and Surface), and web browsers).

Plus500 retains operating licences and is regulated in the United Kingdom, Australia, Cyprus, Israel, New Zealand, South Africa and Singapore.  Customer care is integral to Plus500: customers cannot be subject to negative balances and there are no commissions on trades. Plus500 does not utilise cold calling techniques and does not offer binary options.  A free demo account is available on an unlimited basis for platform users and sophisticated risk management tools are provided free of charge to manage your leveraged exposure and stop losses to help customers protect profits and limit capital losses.

 


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