Plus500 says not hit by Brexit volatility

Contracts-for-difference trading platform Plus500 said on Monday that trading since the last update on 18 April has continued to be robust and in line with its expectations, while the volatility that followed the Brexit vote has not adversely affected its financial position.

Plus500 pointed out the UK represented 15% of 2015 revenue and said it continues to have a diverse international customer base.

“The company's proprietary risk management system ensures that overall exposures to a single instrument are unlikely to have a material impact on the company's financial position,” it said.

“No credit exposure was incurred due to the fact that Plus500's customers cannot lose more than they deposit. The day's volatility led to record spreads being recorded.”

Plus500 said Friday resulted in a number of significant records, as it saw the most signups, at 17,000 and the most new customers, at 1,600.

At 0830 BST, shares in Plus500 were up 1.2% to 606.50p.