PLUS500 revealed plummeting profit for its 2019 financial year yesterday, but said market volatility boosted trading volumes in the second half.

Earnings before interest, tax, depreciation and amortisation (Ebitda) sank 62 per cent year on year from $506m (£390.2m) to just $192.3m. Meanwhile revenue halved from $720.4m in 2018 to just $354.5m last year, the trading platform added.

Plus500, along with rivals CMC Markets and IG, have faced a tough two years as the UK regulator comes down hard on high-risk betting. The Financial Conduct Authority has clamped down on a number of stockrelated betting methods.

(c) 2020 City A.M., source Newspaper