Highlights

  • In the first nine months of this year, revenue increased to $597.8m, with Q3 revenue of $182.7m.
  • Cash balances exceeded $815m as of 30 September 2025, following dividends and share buybacks.

Plus500 (LSE:PLUS), a global fintech group providing multi-asset trading platforms, has released its trading update for the three months ended 30 September 2025. The group reported revenue of $182.7m for Q3 2025, slightly below the $187.3m recorded in Q3 2024. Revenue for the first nine months rose 2% year-on-year to $597.8m, compared with $585.5m for the same period in 2024.

Customer Income, a key measure of underlying performance, increased 8% year-to-date to $536.7m, with Q3 2025 Customer Income at $165.2m (Q3 2024: $166.3m). EBITDA for the first nine months of 2025 was $267.8m, maintaining a margin of 45%, while Q3 EBITDA was $82.7m with the same margin.

Operational and Customer Metrics

Plus500 reported a total of 14.9m customer trades in Q3 2025, up from 14.5m in the prior-year quarter. For the first nine months, total trades reached 50.4m, representing a 23% increase year-on-year. New Customers during Q3 were 22,644, bringing the nine-month total to 78,809, compared with 81,681 for the same period in 2024. The number of Active Customers during the quarter stood at 115,327, with 209,842 for the first nine months.

A key operational metric was the average deposit per Active Customer, which rose to approximately $14,700 in Q3 2025, up from $6,150 in the previous year. Over five years, this figure has increased by over 350%, highlighting the focus on attracting higher value clients. Average revenue per user (ARPU) was $1,584 for Q3 2025, up from $1,548 in Q3 2024, while average user acquisition cost (AUAC) declined to $1,344 (Q3 2024: $1,527).

Futures and International Expansion

The Group’s non-OTC business accounted for roughly 15% of total revenue in Q3 and 18% of new customers. The Group expanded internationally with a new regulatory licence in Canada and authorisation to establish a representative office in Colombia, increasing its global licence portfolio to 15. These expansions extend Plus500’s reach into North America and Latin America.

Financial Position and Shareholder Returns

Plus500 maintained a cash balance of over $815m at 30 September 2025. During Q3, the company repurchased 1,508,613 shares at an average price of £31.87, totalling c.$65m. 

The Board expects FY 2025 revenue and EBITDA to be in-line with market expectations, supported by the Group’s proprietary trading platforms and strategic focus on higher value customers across key markets.