Turmoil on global financial markets三级成人视频 has sent revenue at trading firm Plus 500 surging almost fivefold.

The spreadbetter reported revenues of $316m (£257m) for the three months to the end of March, an increase of 487pc.

This rise was driven by higher customer trading activity as the Covid-19 pandemic wreaked havoc on financial markets and tempted punters to make big bets. It resulted in profits before interest, tax and other costs of $231.6m for the quarter. 

三级成人视频The firm's exceptional first quarter performance means annual profits and revenue are likely to be substantially ahead of expectations, bosses said.

Last month, the online trading platform hiked its forecasts due to the mayhem. 

三级成人视频Asaf Elimelech, Plus500 chief executive, said: "Our history to date has proven how we can cope with exceptional market conditions such as those at present.

"However, as we remain at an early stage in the financial year, and there are global markets uncertainties三级成人视频 as well as ongoing regulatory changes, it remains difficult to predict the outcome for the full year."

The FTSE 250 firm picked up nearly 83,000 new customers during the period, while active customer numbers almost doubled to 194,000.

三级成人视频It added that while wild share price swings have continued in the first days of the second quarter, it is difficult to forecast how long this will last. 

Plus 500 said it remains commited to its existing dividend and buyback policies. 

三级成人视频Analysts at Peel Hunt said the Israel-based group's performance was exceptional, adding that its forecasts will clearly have to be increased again. 

Meanwhile analysts at Liberum raised their price target on the group and said: "The record [first quarter] performance is due to more than just favourable market conditions.

"It also reflects the benefits of the group’s best-in-class platform, which continues to deliver despite lower leverage limits."

三级成人视频Shares climbed 5.2pc to £11.66. The stock has risen more than 56pc since hitting its recent low point in mid-March.

Like rivals, Plus 500 has been hit in the last few years by a crackdown on spreadbetting firms. The companies allow users to bet on moves in share and commodity prices without buying the underlying assets, but is feared they also expose inexperienced traders to huge losses.