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Plus500 quarterly revenue plunges as low volatility hits customer numbers

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(Reuters) – Revenue at online trading platform Plus500 plunged in the first quarter to more than a fifth of that a year ago, as the company suffered from a fall in trading volumes, which it attributed to lower volatility in financial markets.

Plus500, which has been battling new rules in Britain and European Union that have limited retail clients from trading on its platform, said revenue fell to $53.9 million for the three months ended March 31, from $297.3 million a year earlier.

The number of active customers fell to 97,921 from 218,187 in the same period a year earlier.

(Reporting by Muvija M in Bengaluru; Editing by Arun Koyyur)

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