Plus500 seem to be very happy with the outcomes while most businesses moguls have been suffering over the repercussions that follow Brexit and its constant misunderstandings.
The spread-better profits from unpredictability in stock markets, something that has been available and taking place since Britain’s EU exit, the US-China trade war and the vicious dispute in Hong Kong. These current events have investor’s suffering.
The online trading and brokerage company showed a 10% increase in profits to $110.6 million (£86.1 million) in past quarter of the year to September 30 from last year, while the quantity of new clients climbed to 24,359 from 20,684.
Why Did They Benefit?
Plus500 stated in a press release: “The period benefited from geopolitical events in the quarter, with this heightened activity reflected in trading patterns.”
The calculations and profits come as a surprise since Plus500 investors were unaware of the rise-up taking place. They saw profits and revenues crash in 2018, during a regulatory issue on amateur trading in CFDs; this led to the slowing of client fluctuation.
The shares reached its peak of the FTSE 250, up 5%, or 41p, to 830p, though financial analysts cautioned the threatening rules in Australia that could disapprovingly influence the brokerage and financial services company.
Plus500 provides a trading platform for investors and traders to trade Contract for Differences (CFDs), which offer investors exposure to prices and its movements in securities, without holding the fundamental asset.
Over the previous three months, the equity markets have witnessed an increase in volatility amid major financial news that are relevant to tariffs disagreements between the United States and China, along with the European Union agreeing to a Brexit deal with the UK, after a long time of waiting.
Plus500’s sister company IG Group IGG.L had last month stated that it had additional clients and witnessed an improvement in trading activity in August.
Who are Plus500?
Plus500 is a brokerage firm that specializes in CFD; they were established in Israel in 2008. Many clients claim that Plus500 is very safe and secure, which is why it is one of the most trusted and globally refined brokerage firms across the world. Currently, they have various branches all around the globe; their branches are in places like: Cyprus, UK, Australia, Singapore, and many other places throughout the world map. Plus500 has over 317 thousand active clients, where they keep their funds safe and their identities private.