Plus500 income has fallen from record 2020, but Reuters is above previous pandemic levels
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© Reuters. PHOTO OF THE FILE: Traders analyze financial information on computer screens on the IG Index trading floor in London (UK) on 6 February 2018. REUTERS / Simon Dawson / Photo File
(Reuters) – Plus500’s online trading platform (LON 🙂 on Monday saw a sharp decline in customer revenue in the first half of 2021, when trading levels were recorded years earlier when fears of a pandemic overwhelmed financial markets.
The London-listed Plus500, which also launched an annual stock trading platform, said customer revenues fell 32% to $ 379.2 million in the six months to June, but were better than $ 175 million before the pandemic.
“There was a high level of activity driven by an active customer base that has grown significantly in recent years within the platform,” the company said.
With volumes easing since 2020 and blockages and market volatility led to more trading activity, the company and its partners have gained momentum this year as a result of a shrinking trading portfolio charging turbo-charged stock prices, starting with US company GameStop. (NYSE :).
Plus500 added 136,980 new customers from January to June, up from 198,176 last year and 47,540 in 2019, it said in a statement.
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