The companies, products and regulatory developments shaping the broker industry.
TradingView users can connect Plus500US to trade US futures from charts; the headline $0.49 micro-futures rate excludes exchange and regulatory charges.
Plus500’s Customer Trading Performance moved from negative $38.9 million in Q1 2026 to positive $11.9 million in Q3, a $50.8 million swing around the broker’s underlying customer income. The nine-month result was nearly neutral, revealing both the volatility and the limits of the company’s most misunderstood revenue component.
A reconstruction of the company’s own measures shows Customer Income added US$15.1m, Customer Trading Performance swung US$15.5m and interest fell US$10.1m, producing the US$20.5m quarterly revenue increase.
Plus500 has conditionally agreed to acquire a US SEC-registered securities broker-dealer and aims for a first-quarter 2027 multi-asset launch, subject to completion and rollout.
Plus500 says its US futures commission merchant has begun offering Kalshi perpetual contracts through B2B and B2B2C channels, using a direct Kalshi Klear connection.
The live integration extends the group’s exchange-traded business through partner channels. Funding transfers, contract terms and margin obligations determine the economics of holding the positions.
The unaudited update combines faster customer acquisition with a narrower EBITDA margin. Planned US and Brazilian expansion remains conditional.
The conditional deal adds local licences and market access, but product rollout remains dependent on completion and implementation.
The conditional purchase would add a Brazilian broker-dealer for local stocks, futures, options and fixed income. It complements Plus500’s existing Nelogica route to US futures and would be funded from group cash.
The conditional acquisition would combine Hedge’s broker-dealer capability with Plus500’s US derivatives business. The commercial test is whether a broader product range improves customer retention and revenue after integration costs.