Online trading platform Plus500 tracks ahead of full-year expectations
April 28 (Reuters) - Online trading platform Plus500 PLUSP.L said on Monday it expects full-year results to exceed market expectations after first-quarter core profit rose 23% sequentially, driven by a strong client base and increased global market volatility.
Companies like Plus500 thrive on turbulent geopolitical and financial environment as more customers tend to trade and use their services.
Global markets have see-sawed since U.S. President Donald Trump announced his trade policies earlier this month and ceasefires in Gaza and between Russia and Ukraine remain uncertain.
The company, which provides equity, commodity and options trading services and is active in more than 60 countries, said average deposit per active customer increased by 106% to about $12,450 during the quarter from the around $6,050 reported last quarter.
Core profit for the three months ended March 31 reached 93.8 million pounds, up 23% sequentially.
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