Plus500 Ltd (LON: PLUS) announced its trading update for the three months ended 30 September 2025, reporting stable results amid a period of subdued market volatility.
Revenue for the third quarter stood at $182.7 million, down slightly from $187.3 million in Q3 2024. The figure comprised $161.6 million in trading income and $21.1 million in interest income, with the latter reflecting a continued benefit from higher global interest rates.
Customer Income, a key indicator of Plus500’s underlying performance, was $165.2 million, broadly in line with $166.3 million recorded in the same period last year. Customer Trading Performance stood at ($3.6 million) compared to $6.9 million in Q3 2024. The company reiterated that this metric is expected to be broadly neutral over time.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) reached $82.7 million, representing an EBITDA margin of 45%, consistent with the prior year (Q3 2024: $82.2 million, 44%).
Plus500 Reports Q3 Results Despite Market Calm
For the nine-month period ended 30 September 2025, Plus500 reported total revenue of $597.8 million (YTD 2024: $585.5 million) and EBITDA of $267.8 million, maintaining a margin of 45%.
Trading activity remained robust, with 14.9 million customer trades executed during Q3 (Q3 2024: 14.5 million), contributing to a 23% year-on-year increase in total trades for the nine-month period to 50.4 million.
The Group onboarded 22,644 new customers in Q3 (Q3 2024: 24,922), bringing the year-to-date total to 78,809. The number of active customers for the quarter was 115,327, compared with 120,968 a year earlier.
Plus500 maintained a debt-free balance sheet, with cash reserves exceeding $815 million as of 30 September 2025 (31 December 2024: $890 million).
During the quarter, the company repurchased 1,508,613 shares at an average price of £31.87, for a total consideration of approximately $65 million. Following the buyback, 70,133,617 ordinary shares remain in issue. Shares held in treasury do not carry dividend or voting rights.
Looking ahead, Plus500 said it expects full-year 2025 revenue and EBITDA to be in line with current market expectations, supported by its strong capital position and consistent operational execution.
For more broker reviews, visit Broker Reviews.
