Plus500 Reports Record 2017 with $437.2m Revenues and Net Profits up 70%
Plus500 has just posted its preliminary results for the year that ended on December 31st 2017. The company registered record revenues and profits just before the upcoming changes to the regulatory framework in Europe.
The Israeli broker’s revenues for the year increased by a third to $437.2 million. Net profits generated by Plus500 amounted to $199.7 million, which is higher by 70%.
Looking at the details, the report shows that the main driver for the high spike in revenues was the decline in the average user acquisition cost. The firm’s notorious marketing machine managed to squeeze that down by 60 percent to $474 from $1,195 throughout 2016.