Plus500 expects revenues and profits ahead of market expectations for 2017, having being helped by the crypto currency boom.
The contract for difference (CFD) trading platform has provided an update to the stock exchange that an increase in both trading and attracting new customers continued in the final quarter of last year.
Record quarterly revenues were achieved amid a 12-month period in which 246,000 fresh customers signed up, compared to 104,432 a year earlier.
Crypto currency CFDs have reached “strong volumes,” according to the update, with customers able to trade in crypto without owning the underlying assets. The company also stated that it remains focused on risk management, including setting appropriate risk and leverage for all the instruments traded on its platform.
Asaf Elimelech, CEO of Plus500, said: "Momentum in the business has continued to be strong with increased interest in our crypto currency CFD offering and record new and active customer numbers, demonstrating our ability to serve our customers’ trading needs through product innovation and technology leadership."
