Plus500 Ltd on Tuesday said it has continued to perform well in 2022 as it drew attention to expansion plans and ongoing share buybacks.

The Haifa, Israel-based online trading platform provider said it continued to perform ‘very well’ against its key metrics to date in 2022.

The company said that it made further ‘substantial progress’ against its strategic priorities and is currently developing new technologies to support the expansion into new geographies and product offerings.

Plus500 said it plans to achieve growth through further organic investments and acquisitions. This growth will build on ongoing enhancements to its core product offering.

‘This builds on recent achievements including ongoing enhancements to the group’s core product offering, the development of its new US futures offering including becoming a full clearing member of the [Chicago Mercantile Exchange] in the US, the purchase of EZ Invest Securities in Japan and the on-going development of Plus500 Invest, its share-trading platform, across European markets,’ Plus500 said.

‘With significant continued operational and financial momentum to further drive the group’s strategic position as a global multi-asset fintech group, the board expects that Plus500 will continue to deliver sustainable growth over the medium to long term.’

Plus500 said it has announced share buybacks totalling $105 million in the year to date, evidence of the company’s ‘continued confidence’ of its future prospects.

Shares in the firm were down 0.1% at 1,557.60 pence each on Tuesday morning in London.

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