Plus500 Share Discussion Threads

[lydnem] 01/11/2016 09:58

Below 600....not looking good is it!

[freddie ferret] 28/10/2016 17:22

Rat boy as you choose to call me, bought into this for 403p some while back.

Ferrets are mustelids, rats are rodents.

Incidentally I have also received several meaty dividends from this.

£ depreciation versus $ improves divis IMHO.

[planelondon] 28/10/2016 16:51

Berenberg FY forecast: USD 306m.

[lydnem] 28/10/2016 16:34

Theyre house broker arent they? Generally over bullish

[planelondon] 28/10/2016 15:20

Thanks Tomps2. I think Liberum's forecast is optimistic given the weakening EUR and GBP. IMO it will take multiply and sustained periods of volitility between now and year end to achieve Liberum's forecast.

[tomps2] 28/10/2016 14:05

FY rev forecast from Liberum: $324.1m

[planelondon] 28/10/2016 12:02

On a constant currency basis Plus500 continues to deliver impressive revenue growth. Here is why: 75% of its revenue is derived from Western Europe. 57% from Europe in EURs and 18% from the UK in GBP (data from RNS 05/09/16 and 24/10/2016). Based on 2015 year end revenue of USD 275.6m this would imply that revenue of USD 157m (EUR 139m) came from Europe and USD 49m (GBP 31.6m) came from UK in 2015.

Working on the assumption Plus500 will deliver total USD revenues of USD 315m for 2016 (Q4 USD 78.7m)this would imply revenues from Europe at USD 179.55m (EUR 165.72m) and UK USD 56.7m (GBP 46.47m).

Therefore on a local currency basis revenue growth in Europe over 2016 is in the region of EUR 26.72m (19.22% increase) and GBP 14.87m (47% increase).

The average EUR and GBP to USD during 2015 was 1.13 and 1.55 respectively. Today 1.09 and 1.22 respectively. Plus500 have confirmed they purchase USD on an "as earned basis" throughout the year (data from investor conference call 17/02/2015).If you go back further to 2014 when the EUR traded at an average of 13.35 to the USD and GBP traded at an average of 1.65 to the USD the annualised growth on a constant currency basis is even more impressive.

In conclusion, Plus500 continue to significantly grow revenues across Europe but the ongoing depreciation of EUR and GBP (or a strong USD, whichever you like) is biting into a large part of this growth in USD terms. This will continue into Q4 and even on the currency movement over the last month is likely to knock USD4/5m off Q4 revenues on a constant currency basis. This will IMO limit Q4 revenue to circa USD80m.

[lydnem] 28/10/2016 09:44

Really? How much are you down on this, rat boy?

[freddie ferret] 27/10/2016 18:50

Yep, you sure are.

[lydnem] 27/10/2016 12:22

What an idiot!

[lydnem] 25/10/2016 19:22

So, lets see if the directors have faith when they are free to dump their shares AGAIN!

[freddie ferret] 25/10/2016 17:42

In the meantime after the derampers have had there hayday, the question is with a lower £ where will the divi be? If they raise it in $, then converted into £ it should be very good.

[andrewbaker] 25/10/2016 17:31

If 636 marks a low and the price rises from here, then the price will retrace its path back up over 700p and towards 800p over the next while. If it drops lower, then I will start to be concerned. However, on so many different points, this is a good share to buy and hold: turnover, profitability, return on assets, equity and investment, dividend payments, etc ... And if there is another bid, that would be a bonus.

[sailing john] 25/10/2016 17:19

WITJ - I suspect you triggered a warning flag given that you deposited funds - didn't trade and soon after asked to withdraw all funds. An unusual event!

You have to remember they have up to 100,000 new customers each year and so onboarding has to be pretty much automated

How did IG perform with the same deposit, no trade, withdraw test?

The "quiz" as you call it is just extra questions to the ID checks already done. Yes you can lie about what you earn and where you work etc. and for a trivial deposit it won't get followed up but if you were depositing large sums and making unusual transactions (deposit, no trade, withdraw) it could be checked (to a certain extent) or flagged to HMRC if required

[whiskeyinthejar] 25/10/2016 17:04

I found the link to the quiz. Is this their AML check? It was emailed to me 3 weeks after i asked to withdraw money. What were they doing for 3 weeks?



Also, just remembered. I got the money back after raising a PayPal dispute, they didn't voluntarily return it to me. As the other party they didn't bother engaging at all with the dispute. Nada.

As I say, people would be quite right to say this was last year and things may have changed.

[lydnem] 25/10/2016 16:26

You should have had the AML checks as you deposited then, it was after the FCA had investigated.

[sailing john] 25/10/2016 15:52

Lydnem - Correct
But I sense WITJ hadn't fully completed the onboarding process before asking to withdraw funds

I would be worried if he had been able to withdraw funds without completion of onboarding since establishing ID and source of funds is the whole point of the AML Regs - with withdrawal of funds being the most important element. Whilst WITJ might not see the importance for a small deposit to "test the system" clearly most deposit and withdraw much larger sums

[lydnem] 25/10/2016 15:31

They should do the checks when they onboard. I thought that was what was changed when the FCA investigated?

[sailing john] 25/10/2016 13:51

WITJ - Just trying to help
As you should be aware, the AML Regs that PLUS fell fowl of when their Onboarding Procedures were not up to scratch are very onerous.

It sound like you deposited money with a bonus attached but then perhaps failed to complete all the AML checks (satisfactory evidence of your identity, photo ID residential address, source of funds required by PLUS and all other FCA Regulated Companies.)

If you try to withdraw money before fully completing the Onboarding AML checks the system will quite rightly put a brake on the process. It is not geared up for those like you trying to simply test the system without fully completing the process.

You didn't say how you got on with IG but I suspect you didn't actually deposit cash and try to withdraw. If you had you would have found a similar Onboarding/AML process was required.

I have copied below the T&C that Plus publish clearly in their Q&As

SJ


"As per our legal and regulatory obligations, Plus500 is required to verify your identity and residential address, for which a photo ID and residence information and/or documentation may be required.
When you open an account with Plus500, you agree to comply with all applicable laws and regulations against money laundering and terrorism financing, including, but not limited to, the requirement to provide satisfactory evidence of your identity, residential address, source of funds, etc. Plus500 will not establish a business relationship with an individual unless and until the client’s identity and residential address have been successfully verified and/or all necessary documents have been received and verified. This is to protect both you and us from fraud as well as guard your privacy, and is therefore part of our standard due diligence process. Plus500 reserves its right to impose additional due diligence requirements where necessary."

[whiskeyinthejar] 25/10/2016 12:44

The bonus was irrelevant as they never said that this was a barrier to returning my money. I had a bonus, don't think I asked for it but didn't access it anyway as I made no trades.

They just kept saying their security department wanted me to fill in attached questionnaires. What if Id lied on the questionaire? I mean how pointless. If its important you ask for proof of income, you dont just ask me what I earn in an attached text file.

Anyway. IMO it should not take 6 weeks to transfer money. I made the transfer from PayPal instantly and only asked for it to go back the same way.

And reputable companies have telephone numbers you can use.

Anyway, I don't want to labour my point. I don't expect you to agree with my comments. My interest is in gambling sector, but in GVC rather than PLUS.

[sailing john] 25/10/2016 11:59

WITJ - But did you opt for the bonus? even though you didn't try to withdraw that part of your cash