Plus500 Outperforms Market Expectations with Strong Q3 2026 Growth and Strategic US Expansion

Plus500 has reported a strong third quarter for 2026, driven by a 27% increase in new customer growth and the strategic acquisitions of broker-dealers Hedge and Guru. For fintech professionals, the group’s expansion into SEC-regulated markets and the Brazilian retail sector signals a significant shift toward a diversified, multi-asset global infrastructure beyond its traditional OTC roots.

What was announced

Plus500’s trading update for the period ending 30 September 2026 highlights a period of significant expansion and financial outperformance. The group reported that revenue for the first nine months of the year reached $666.1 million, an 11% increase compared to the previous year. This total includes $634.0 million in trading income and $32.1 million in interest income. The company’s operational efficiency was evidenced by a 44% EBITDA margin in Q3, supported by a 27% year-on-year growth in new customers and a 14% reduction in Average User Acquisition Cost (AUAC).

The group’s balance sheet remains robust with no debt and cash balances exceeding $775 million, even after distributing $87.4 million in dividends and executing approximately $63.5 million in share buybacks during the third quarter. A key milestone was reached as customer segregated funds surpassed the $1 billion mark, which the company attributes to increasing trust from higher-value customers.

Strategically, Plus500 confirmed the conditional acquisitions of two broker-dealers: Hedge in the United States and Guru in Brazil. The acquisition of Hedge is designed to move the company into SEC-regulated securities markets, complementing its existing CFTC-regulated operations. This integration is a precursor to the planned launch of a multi-asset "super-app" in the US, scheduled for Q1 2027. Meanwhile, the acquisition of Guru marks Plus500’s first local presence in Brazil, facilitating customer onboarding and extending the group's presence across Latin America.

"Plus500 has delivered significant strategic and operational progress in Q3 and throughout 2026, underpinning strong financial results. We expanded our global reach and product suite, which continued to attract increasing numbers of higher-value customers. Our non-OTC business continued to gain momentum, enhanced by new partnerships in our B2B and B2B2C channels, extending our global distribution. Customer segregated funds surpassed $1bn at period end, reflecting the ongoing trust customers place in us and strengthening the foundation for future revenue generation. Our OTC business launched innovative new offerings, expanded into new geographies and achieved impressive customer acquisition efficiency at scale, driving growth and attractive value creation. We built on our established track record of disciplined M&A, with the recently announced acquisitions of two broker-dealers in the US and Brazil. In the US, Hedge will unlock access to SEC-regulated markets, supporting the planned launch of a new, multi-asset ‘super-app’ in Q1 2027. Guru will establish Plus500’s first local operations in Brazil, enabling the Group to begin onboarding customers and extend its presence across Latin America. With momentum accelerating across the Group, the Board expects that FY 2026 revenue and EBITDA will be ahead of current market expectations."

David Zruia, Chief Executive Officer of Plus500

The companies involved

Plus500 is a global multi-asset fintech group that develops and operates proprietary technology-based trading platforms. The company has established a significant presence in the international trading market, offering customers access to a range of financial instruments including equities, options, and futures. Historically known for its over-the-counter (OTC) offerings, the group has increasingly pivoted toward a diversified model that includes B2B and B2B2C channels, leveraging its internal technology stack to provide market infrastructure to other financial institutions.

The group is currently expanding its footprint through targeted acquisitions. Hedge is a US-based broker-dealer that provides the regulatory framework necessary for Plus500 to operate within SEC-regulated securities markets, moving beyond its established CFTC-regulated futures business in the United States. Guru is a broker-dealer based in Brazil, a market recognized as the second-largest derivatives market globally. By acquiring Guru, Plus500 gains the local operational capacity required to onboard customers directly in the Brazilian market and serves as a launchpad for broader expansion across the Latin American region.

What FF News has reported before

FF News has closely tracked Plus500’s aggressive expansion strategy throughout 2026. In October, we reported on the Plus500 Enters Brazil with Strategic Acquisition of Broker-Dealer Guru and the subsequent move to Plus500 to Launch US Trading 'Super-App' Following Acquisition of SEC-Regulated Hedge. These moves followed a period of high liquidity for the firm, as noted when Plus500 Reports Record H1 2026 Results with $182.5m Shareholder Returns earlier this year. Furthermore, the company’s shift toward becoming a B2B infrastructure provider was highlighted when Plus500 Powers Wealthsimple’s US Futures Launch in Major B2B Infrastructure Expansion, demonstrating the versatility of its proprietary technology.

What this means

Plus500 is successfully transitioning from a pure-play CFD broker to a diversified financial infrastructure provider. Surpassing $1 billion in segregated funds is a major trust signal that may pressure smaller competitors struggling with rising acquisition costs. By entering SEC-regulated markets in the US, Plus500 is positioning itself to compete directly with established retail giants rather than just other derivatives platforms. The reduction in user acquisition costs during a period of high growth suggests their proprietary marketing technology is a significant competitive advantage. The broader industry question is whether other European-born platforms can navigate the complex US regulatory divide between SEC and CFTC as effectively.