Seen this on yahoo finance. They site ‘subdued markets’ as a casual factor.
I guess having to say ‘most of our customers lose money’ hasn’t helped things.
That explains the sudden drop in my dividend etf - though recovering a bit now, wonder if it will affect the dividend payout.
Is it a fact that most of their customers lose money? I’ve never used Plus500 so genuinely asking.
They had good business because of Crypto.
I purchased PLUS and IG before Crypto (only a little though) bubble burst, it was obvious as everyone at work was trying to trade crypto, and sold both after.
I though sell off was already done! didn’t expect this.
Also it helps to check https://shorttracker.co.uk/company/IL0011284465/ for companies in anyone’s portfolio.
There is so much I could go into on Plus500s dodgy practices lol
I made a video about it: https://youtu.be/IkpewSDoip0
- There business model is run of hedging traders bets so if your profitable they are losing money
- They have no contact number and use auto generated email responses when you ask any questions about the above
- They got in trouble for not disclosing the level of losses they were making in their annual report and claims it was a “drafting error”
I could carry on but I’ll leave it there lol
Also last years enforcement of ESMA regulation saw profits slashed for all
The trading platforms they restricted access to leverage for retail traders.
The whole industry got hit with ESMA but plus500 in particular cos they banked I’m taking the other side of the positions of losing traders.