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Plus500 Ltd.PLUS.LCompetitor analysis, valuation and peers

United Kingdom · GBP·Financials›Investment Banks/Brokers

Online trading platform offering retail CFD trading across forex, indices, commodities and crypto.

≈ A UK/Israeli IG Group/eToro-style CFD brokerMomentum laggard 11
Mkt cap
$3.12B
US dollars, full cap
Free float
91%
of shares outstanding
$/day
$6.32M
20-day average traded
Fwd P/E
10.4×
forward earnings
ROIC−WACC
n/a
WACC 8.8%
Hurdle
n/a
no reverse DCF
Next earnings
102 days
16 Feb 2027
Close · GBP£3,298
1D+0.4%
1W+1.1%
1M+2.4%
3M-14.0%
6M-25.7%
YTD-9.2%
1Y+9.3%
ATR %3.2%
52w lowhigh36.4% off high

What Plus500 does

Online trading platform offering retail CFD trading across forex, indices, commodities and crypto.

Takes the other side of customers' CFD trades, contracts that pay out on price moves without owning the asset, and earns the spread between buy and sell prices plus overnight financing charges. Rules from European and UK regulators capping leverage on retail CFDs shape what customers can do, and US futures trading is a smaller line.

In one line: A UK/Israeli IG Group/eToro-style CFD broker.

Products and services

  • CFD trading (forex, indices, commodities)
  • Crypto CFD trading
  • US futures trading (via acquisition)

Customers

  • Retail traders globally

Where it sits in the supply chain

  • Financials
  • Retail online trading
  • CFD brokerage platform

What could go right

  • Retail trading volume growth
  • Geographic/product diversification

What could go wrong

  • Regulatory restrictions on retail CFD leverage
  • Revenue volatility tied to market volatility

Moat: narrow (brand, scale, regulatory licence). Proprietary trading technology and multi-jurisdiction regulatory licenses support scale.

Headquarters: Haifa, Israel · Founded: 2008 · Employees: 674

Named competitors

Plus500 at a glance

Size Plus500 (PLUS.L) is a United Kingdom Financials company (Investment Banks/Brokers) with a market value of $3.12B, the 130th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £3,298 on 6 Nov 2026.

Performance Over six months the shares fell 25.7%, against -12.2% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th lowest of 20 in its peer set.

Growth Revenue grew 3.1% over the last twelve months (peer median +10.1%); the operating margin is 41.0% (peer median 28.2%).

Valuation It trades at 10.4× forward earnings against a peer median of 17.4× (3rd cheapest of 15).

Next results Next results expected around 16 Feb 2027 (exchange calendar; dates can move).

Relative performance

8010011 May 202611 Aug 20266 Nov 2026Peer median 88PLUS.L 74
Six months, rebased to 100: Plus500 against the median of its 20 peers (local-currency closes).

Plus500 financials

Reported figures in GBP; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
Revenue£626M£601M£601M£584M£676M
Revenue growth—0%+3%-14%—
Gross profit£612M£587M£587M£572M£662M
EBITDA£261M£264M£268M£274M£368M
Net income£211M£213M£214M£218M£301M
Free cash flow£211M£213M£263M£274M£368M
Capital expenditure£3.35M£3.49M£3.76M£6.60M£649,467
Total debtn/a£16.7M£12.6M£14.4M£4.66M

Quarterly statements and history in the cockpit →

Plus500 competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-50%-25%0%+25%+50%-20%0%600390TATAINVESTANGELONE002926TCAPCDSL002670600927MIAX601099039490600816FTK0622LAZ8304PJT002673PLUS.L6-month return →1-month return →
Up and to the right = strong over both horizons. Plus500 is the large dot.

Fundamentals: revenue growth against valuation

-100%0%+100%0×20×40×600390ANGELONE002926TCAPCDSL600927MIAX039490002500LCLNPJTPLUS.LRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Plus500 is the large dot.

Plus500 competitors and peer comparison

Head to head with its named competitors (PLUS.L vs IGG.L vs CMCX.L vs ETOR)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Plus500 PLUS.L$3.12B-26%+3%41%10.4×n/a
IG Group Holdings plc IGG.L$4.23B-38%+16%40%8.7×n/a
CMC Markets CMCX.L$2.54B+79%+16%27%10.5×n/a
eToro ETOR$1.86B-40%+10%32%11.0×-18.5%

How Plus500 compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Plus500 against its 20 peers (data as of 6 Nov 2026)
MeasurePLUS.LPeer medianRank in peer set
1-month return+2.4%-1.9%8th highest of 21
6-month return-25.7%-12.2%4th lowest of 20
Distance from 52-week high-36.4%-27.1%5th lowest of 21
Revenue growth (TTM)+3.1%+10.1%7th lowest of 21
Operating margin41.0%28.2%7th highest of 20
Forward P/E10.4×17.4×3rd cheapest of 15

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Plus500 PLUS.LUnited Kingdom$3.12B-26%+3%41%10.4×n/an/a
Minmetals Capital 600390.SSChina$3.15B-11%-62%60%51.9×n/an/a
Tata Investment TATAINVEST.NSIndia$3.06B-22%+18%89%n/an/an/a
Angel One ANGELONE.NSIndia$3.20B+3%+21%28%23.1×n/an/a
HUAXI Securities 002926.SZChina$3.01B-12%+10%36%11.4×n/an/a
TP ICAP TCAP.LUnited Kingdom$2.97B-1%+4%11%8.9×n/an/a
Central Depository Services (India) CDSL.NSIndia$2.95B+5%+3%50%52.1×n/an/a
Guosheng Securities 002670.SZChina$2.92B-20%-11%11%n/an/an/a
Yongan Futures 600927.SSChina$2.83B-12%-139%n/a24.3×n/an/a
Miami International MIAXUnited States$3.45B-34%+14%12%18.8×n/an/a
Pacific Securities 601099.SSChina$3.47B-8%-11%14%n/an/an/a
Kiwoom 039490.KSSouth Korea$3.48B-53%+100%41%2.9×n/an/a
J-Yuan Trust 600816.SSChina$3.50B-18%+139%13%n/an/an/a
flatexDEGIRO FTK.DEGermany$2.78B-27%+20%45%11.1×n/an/a
Shanxi Securities 002500.SZChina$2.73B-10%-3%28%16.4×n/an/a
Oshidori International 0622.HKHong Kong$2.67B+52%+71%47%n/an/an/a
Lincoln International LCLNUnited States$2.65Bn/a+35%28%18.3×n/an/a
Lazard LAZUnited States$3.74B-20%+9%11%16.7×n/an/a
Aozora Bank 8304.TJapan$2.60B+17%+12%29%14.4×n/an/a
PJT Partners PJTUnited States$3.80B-4%+10%21%18.0×n/an/a
Western Securities 002673.SZChina$3.83B-14%-2%29%n/an/an/a

Questions

Who are Plus500's main competitors?
Named competitors: IG Group (IGG.L), CMC Markets (CMCX.L), eToro (ETOR). The cockpit's measured peer set (industry) also includes Minmetals Capital (600390.SS), Tata Investment (TATAINVEST.NS), Angel One (ANGELONE.NS), HUAXI Securities (002926.SZ), TP ICAP (TCAP.L), Central Depository Services (India) (CDSL.NS).
Is Plus500 expensive compared with its peers?
On forward p/e it trades at 10.4× against a peer median of 17.4×, 3rd cheapest of 15 in its peer set.
How has Plus500 stock performed?
Over six months to 6 Nov 2026 the shares returned -25.7% against -12.2% for the median peer; over one year +9.3%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.