Plus500 revenues jump as pandemic trading boom keeps going

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HE The online share trading boom, which has driven thousands of new investors into the stock market, has helped drive revenue growth on Plus500.

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The spread betting and CFD (Contracts for Difference) house generated record revenue of $718 million in 2021 – of which $160 million came in the fourth quarter.

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Plus500 did not specify how these figures compared to a year ago, but said they were “ahead of market expectations”.

Many people started share trading for the first time in the lockdown, in some cases when they spent the money they saved while shops and pubs were closed.

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Not everyone has found the experience beneficial. This weekend in the Sunday Times there was a headline “How My Husband’s Online Trading Addiction Destroyed Our Marriage”.

Plus500, which is the Atletico D. sponsors madrid, It says it has 406,000 active customers, which is almost double that of pre-pandemic.

The spread betting industry recognizes that most clients lose money.

CEO David Zaruia says it has made “progress with our strategic and operational plans to strengthen our position as a leading global multi-asset fintech group”.

Shares rose 36p to 1473p.

Plus500 has been buying back its shares, spending about $13 million since October. The full year results which will include details on dividend payment will be done on February 15.

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