Plus500 Expands Middle East with New Licence

Plus500 expands Middle East operations with a new license, significantly enhancing its regional presence and offerings. Plus500 (LON: PLUS) announced that it closed 2024 with a revenue of approximately $768 million and an EBITDA of around $342 million. These results are notable, as the broker emphasized its “strong financial and operational results [for 2024], with revenue significantly exceeding market expectations.”

However, according to the broker’s previous performance data, it generated $182.5 million in revenue during Q4 2024, which is slightly lower than the $189.6 million achieved in the same quarter of the previous year. Furthermore, this performance also fell short of the $187.3 million revenue posted in Q3 2024.

Plus500 Expands Middle East Operations in UAE

The Israeli broker revealed it has acquired a new license in the UAE from the Securities and Commodities Authority (SCA) this month. This license enables the platform to offer Contracts for Difference (CFDs) in the region. “The new licence will enable the Group to enhance its operations within the UAE and to market itself more widely in the region,” the broker stated.

This marks Plus500’s second license in the Middle East, as it already holds one from the Dubai Financial Services Authority (DFSA). In addition, Plus500 is regulated in several other regions, including the UK, Cyprus, Australia, New Zealand, South Africa, Singapore, Israel, Seychelles, Estonia, Japan, and Indonesia. The London-listed broker expanded into the U.S. in 2021 by acquiring a local futures trading platform.

In addition to its new UAE license, Plus500 also secured clearing membership with ICE Clear US, allowing it to offer more products to its U.S. customers. This strategic move will help the broker lower costs associated with third-party providers and offer new solutions to institutional clients.

New Market Entry

The latest announcement revealed that Plus500 added over 36,000 new customers in the final three months of 2024, marking a quarter-over-quarter growth of approximately 45%. “As the Group has consistently demonstrated historically, current customer acquisition lays the foundation for future performance, making it an investment in Plus500’s medium to long-term growth,” the broker remarked.

Moreover, the broker remains debt-free and reported cash reserves of about $900 million at the close of 2024. It also returned $360.5 million to shareholders last year through buybacks and dividends.

Looking ahead to 2025, Plus500 plans “to continue executing against its strategic roadmap of expanding into new markets, developing new products, and deepening engagement with customers, in turn driving growth and shareholder value.”

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