Plus500 (LSE:PLUS) delivered a solid performance in 2025, with revenue increasing 3% to $792.4m and EBITDA rising 2% to $348.1m, reflecting tight cost control and continued operating discipline. The group ended the year debt-free with around $0.8bn in cash, while its focus on higher-value, longer-tenure clients drove a sharp rise in average deposits per active customer and lifted ARPU to a record level. This supported $187.5m of shareholder returns through dividends and share buybacks.
Strategically, the company continued to diversify its revenue base, scaling its non-OTC operations beyond $100m in annual revenue and increasing customer segregated funds to more than $0.9bn. Plus500 also expanded its institutional footprint through additional clearing memberships, a new partnership with Topstep, and the completion of the Mehta Equities acquisition in India. Expansion into prediction markets, including roles linked to CME Group, FanDuel and Kalshi, alongside new regulatory licences in Canada, the UAE, Japan and Colombia, further strengthens its positioning as a provider of global market infrastructure.
Management believes these initiatives leave the group well placed for continued progress in 2026, supported by a broader product mix and expanding geographic reach. From an investment perspective, Plus500’s outlook is underpinned by strong profitability, low leverage and healthy cash generation, complemented by a reasonable valuation and attractive dividend yield. Technical indicators point to a strong upward trend, although very overbought momentum suggests an increased risk of near-term pullbacks.
More about Plus500
Plus500 is a global multi-asset fintech group operating proprietary, technology-driven trading platforms for retail and institutional clients. The company offers both OTC and non-OTC products across derivatives, futures and, increasingly, prediction markets, while continuing to expand its regulated presence across North America, Europe, Asia, the Middle East, India and Latin America.
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