ONLINE trading platform Plus500 yesterday announced that its revenues almost doubled in 2014 as increased market volatility led to record customer activity.
The Aim-listed, Israel-based company is exclusive to retail clients, allowing them to trade in global equities, commodities and foreign exchange, as well as more complex derivatives.
Plus500 benefitted from increased brand awareness in the past year and it has been able to secure a large number of high value customers. It has also gained from market volatility which helped to increase new flow and transaction volumes, offsetting a three per cent decline in new customer registrations.
The company continued to gain market share in the UK which now accounts for 16 per cent of the firm’s revenues and making it the second largest contract for difference (CFD) derivatives provider in the UK.
Overall company revenue increase 99 per cent to £148m, with profits before adjustments up 116 per cent to £94m.
Gal Haber, the chief executive of Plus500, commented: “We are delighted to announce another year of strong growth… looking ahead, we continue to build our brand online as well as through traditional offline channels such as sponsorship of Atletico Madrid Football Club.”