January 3, 2018 / 7:22 AM / 3 months ago

Spreadbetting company Plus500 sees higher 2017 profit and revenue

Jan 3 (Reuters) - Spreadbetting company Plus500 expects to report full-year profit and revenue ahead of market expectations after rising customer numbers and strong trading helped to offset challenges from a sector-wide regulatory clampdown.

The company, which provides an online trading platform for retail customers to trade contracts for differences (CFDs), achieved strong volumes in crypto currency CFDs and experienced increased interest in the offering throughout the year, it said on Wednesday.

Record quarterly revenue was achieved in the final quarter of 2017 and about 246,000 new customers joined during the year, up from 104,432 a year earlier, Plus500 said.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by David Goodman

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