Why is Plus500 stock rallying today?

Plus500 stock gained 4.6% to trade at 3,442.67p after the global multi-asset fintech group published its full Q3 2026 Trading Update, upgrading its full-year outlook and reporting broad-based operational momentum across its business lines.

The company now expects 2026 revenue and underlying earnings to exceed current market expectations, following strong third-quarter growth in revenue, customers, and trading activity.

Revenue rose 11% to $203 million in the three months to September 30, while EBITDA increased 7% to $88 million, with the group delivering an EBITDA margin of 44% for the quarter as customer acquisition improved and marketing efficiency strengthened.

New customers increased 27% to 28,747, while active customers rose 4% to 119,528, and average revenue per user climbed 7% to $1,700 even as average customer acquisition costs fell 14% to $1,150.

Adding further confidence to the outlook, Plus500 ended September with more than $775 million of cash and no debt after paying $87 million in dividends and completing around $64 million of share buybacks during the quarter.

Beyond the headline numbers, the group’s non-OTC business secured two new international B2B partnerships with Wealthsimple and Nelogica, alongside introducing new products including CFTC-regulated sports and non-sports prediction market contracts and single stock futures, further expanding its target markets.

The company is also expanding through acquisitions in the US and Brazil, including broker-dealers Hedge and Guru, with the Hedge acquisition set to support Plus500’s planned US multi-asset trading app due to launch in the first quarter of 2027.

The ongoing share buyback programme, which has been running since August 2026, provides an additional technical tailwind by steadily reducing the freely tradable share count.

The broader London market was under pressure today, with the FTSE 100 softer amid oil prices at over five-month highs weighing on risk appetite, while the midcap FTSE 250 — of which Plus500 is a constituent — also drifted lower. Plus500’s sharp move higher therefore stood in stark contrast to the wider index weakness, underscoring that the catalyst was entirely company-specific.

The combination of a decisive guidance upgrade, robust Q3 metrics, a strong balance sheet, and accelerating strategic expansion gave investors a compelling reason to re-rate the stock sharply higher on the day.