Plus500 Faces Renewed Shareholder Revolt Over Executive Compensation

Online trading brokerPlus500 is facing renewed shareholder unrest over its executive pay policies, with a majority of investors voting against the company’s remuneration report for the second consecutive year.

According to a disclosure filed with the London Stock Exchange, 51% of shareholders opposed the 2024 remuneration report during the company’s annual general meeting (AGM). This marks another significant blow for the trading platform, following a 65.8% vote against executive pay in 2023.

The opposition centers around compensation awarded to CEO David Zruia and CFO Elad Even-Chen, who each received nearly $5 million in pay packages last year, up from $3.7 million previously, despite a mixed performance across recent quarters.

The AGM also revealed that 22% of shareholders voted against reappointing Steve Baldwin as a non-executive director. While the motion passed, the level of dissent underscores ongoing dissatisfaction with the company’s governance.

Despite these concerns, Plus500 raised its 2025 outlook, even as its Q1 results painted a complex picture. Revenue increased 13% quarter-on-quarter but declined 5% year-on-year. EBITDA climbed 23% over the previous quarter, though it was still 9% lower than the same period in 2024.

Customer engagement metrics revealed further challenges. The platform attracted 26,897 new users in Q1, a decline from over 36,000 in Q4 2024. Active users also fell 4% to 130,514. However, average deposit per user surged to $12,450, more than double the prior figure.

In response to the shareholder vote, the Plus500 board stated it is taking the feedback seriously and plans to continue engaging with stakeholders to improve corporate governance and executive pay practices. The board emphasized that shareholder input will shape future decisions and acknowledged the company’s unique operating structure.

In early 2025, Plus500 became a clearing member of ICE Clear US, aiming to reduce trading costs and expand services. The company also secured a UAE regulatory license, enabling it to offer futures and stock trading products in the region.

Plus500 reported record growth in its B2B and retail futures trading segments, driven by its flagship product, Plus500 Futures. The company further expanded by entering the Japanese market with a localized trading platform tailored to retail investors.

Meanwhile, the broker continues to strengthen its regulatory footprint. It received a license from the Securities Commission of the Bahamas in July 2023 and has since reported promising growth in the Middle East, particularly after obtaining approval from the Dubai Financial Services Authority (DFSA).