As Israeli business portal Globes informed on Sunday, broker Plus500 became the most successful internet company in Israel, following previous upbeat Q1 results in earnings, based an remarkable increase in new clients and decline of average acquisition costs.
Plus500 proved to be able to attract new customers even in the quarter, hit by the EUR/CHF cap removal, hurting most of the conservative brokers and banks (like FXCM). Its 33,000 new acqusitions provided similar average revenue per user as in the first quarter of previous year, but as Plus500 CEO Gal Haber states, this revenue is higher than for other players on the market for the respective three months.
Moreover, Globes took into account the fact, that average user acquition cost for the Q1 reached only $892, while for the year 2014 it was $921 and totalled $1,120 for the fourth quarter of the previous year. Haber says about this double success: “we killed two birds with one stone. This is mainly the result of very good and effective work by our marketing department.”
Additionally, Plus500's advantage was seen in higher investment into mobile applications, as most of the clients' transaction are made on tablets or smartphones. Not only providing apps for iOS or Android, but Plus500 added an app for Windows operating system, for Nokia Lumia users.
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