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WikiFX News: Plus500 Reports 68% Revenue Growth in Q2
Abstract：For the period from April to June, the broker posted revenues of $240.5 million, up 68 percent year-on-year.
According to the Finance Magnates, Plus500 has released its financial metrics for the second quarter of 2022. For the period from April to June, the broker posted revenues of $240.5 million, up 68 percent year-on-year.
Founded in 2008, Plus500 is a regulated Israeli online trading platform that offers its services in more than 60 countries and 32 languages. As a global trader, it offers investors access to popular products from global financial markets, including forex, indices, commodities, cryptocurrencies, ETFs and more.
First and Second Quarter Data
Plus500's EBITDA soared 118% to $143.7 million in the second quarter of 2022. EBITDA margin was 60%, compared to 46% in the second quarter of last year.
The Israel-based company's results for the second quarter of the year were in line with those of the first quarter, with revenues up 68% sequentially and 33% year-over-year.
Reviewing Plus500's numbers for the first quarter, the broker reported EBITDA of $161.6 million for the January to March period. This figure was again 33% higher than the previous year and 128% higher than the fourth quarter of 2021. At the time, Plus500 highlighted that its EBITDA margin had increased to 60% from 44% in the previous quarters.
Global Expansion Cannot Be Overstated
In addition to delivering stellar financial results, Plus500 is also in the midst of an ongoing global expansion.
Earlier this year, Plus500 received regulatory approval in Estonia and entered the Japanese retail trading market through the acquisition of a local platform.
Last July, Plus500 strengthened its U.S. presence with the acquisition of Cunningham Commodities LLC and Cunningham Trading Systems LLC. The company has now announced that it expects its new trading platform for the U.S. retail futures market to launch in the second half of this year.
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WikiFX is a global broker regulatory inquiry app that holds information of over 35,000 forex brokers in collaboration with 30 national regulators. Here, traders can find verified details of a certain forex broker before engaging with them. In addition to this, you can also see more forex news. Visit WikiFX's official website at www.wikifx.com.
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Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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