Plus500 announced it is appointing Jefferies International Limited ('Jefferies') as a Joint Corporate Broker to the firm, effective immediately. Jefferies will operate alongside Plus500's existing corporate broker, Liberum Capital Limited.
Plus500 Q1 revenue increased year-over-year, which is good news for the broker.
David Zruia, the CEO at Plus500, said: "Plus500 has produced excellent results for Q1 2022, continuing our significant operational and financial momentum over recent years, and validating our clear strategic roadmap.
"Our ongoing investments in developing our position as a global multi-asset fintech group will enable future growth. In particular, we continue to make organic investments in technology, marketing and our people, as well as actively targeting additional acquisitions and initiating potential strategic partnerships."
However, the company's new clients' figures are still failing to take off.
In Q1, 33,740 new clients joined the broker compared to 89,406 in Q1 of 2021. This is a -62% drop. The number of active traders between January and March dropped to 176,642. A -32% decline against 269,743 clients over the same quarter in 2021.
The broker recently announced a new share buyback program.
Pluss500 EZ Invest Securities Acquisition
In March 2022, Plus500 announced it acquired EZ Invest Securities. Through the acquisition , the broker gained access to the Asian market. Also, EZ Invest Securities is based in Japan, Tokyo.
Additionally, EZ Invest Securities is licensed by the Financial Services Agency (JFSA). In addition, it is a member of the Japan Securities Dealers Association (JSDA) and the Financial Futures Association of Japan (FFAJ).
The fruits of the acquisition may be seen in future reports throughout 2022.
David Zruia, the CEO of Plus500, said in March 2022: “This acquisition represents an important strategic step for Plus500 as we continue to strengthen our position as a global multi-asset fintech group, by further diversifying our geographic footprint.
"I am excited about the opportunities available in the substantial Japanese retail trading market and, given Plus500’s considerable technological expertise and robust financial capability, I am confident that we will be able to maximize this opportunity.”
