Plus500 appoints Jefferies as its Joint Corporate Broker

Jefferies will collaborate with Liberum Capital Limited.

Plus500's revenue grew in the first quarter.

Plus500 has announced that Jefferies International Limited ('Jefferies') has been appointed as the firm's Joint Corporate Broker, starting immediately. Jefferies will work with Liberum Capital Limited, Plus500's current corporate broker.

Plus500's revenue grew year over year in the first quarter, which is fantastic news for the broker.

CEO David Zruia: “Plus500 had a great first quarter of 2022, demonstrating our strong operational and financial momentum and demonstrating our clear strategic direction.”

Future growth will be enabled by our continuous efforts to establish our position as a global multi-asset fintech firm. We will keep investing in technology, marketing, and people organically, but we will also be looking for more acquisitions and possible strategic alliances.

However, the company's new customer statistics have yet to take off.

In the first quarter, 33,740 new customers joined the broker, compared to 89,406 in the first quarter of 2021. This represents a -62 percent decrease. Between January and March, the number of active traders fell to 176,642. A 32% decrease compared to 269,743 consumers in the same period in 2021.

Plus500 EZ Invest Securities Purchase

Plus500 announced the acquisition of EZ Invest Securities in March 2022. The broker acquired access to the Asian market as a result of the transaction. EZ Invest Securities is also situated in Tokyo, Japan.

Furthermore, EZ Invest Securities is a Financial Services Agency-licensed firm (JFSA). It is also a member of the Japan Securities Dealers Association (JSDA) and the Japan Financial Futures Association (JFA) (FFAJ).

The acquisition's benefits may be evident in subsequent reports throughout 2022.

In March 2022, David Zruia, CEO of Plus500, stated, “This purchase is a significant strategic move for Plus500 as we continue to expand our position as a global multi-asset fintech firm by further broadening our regional presence.”

“I'm excited about the big Japanese retail trading market, and I'm sure we'll be able to take advantage of this because Plus500 has a lot of experience with technology and a lot of money.”