The Close Market Cap Rivalry Between CMC Markets & Plus500 Continues

The Close Market Cap Rivalry Between CMC Markets & Plus500 Continues

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The total dollar market value of shares of CMC Markets PLC (LON:CMCX)  came in at GBX 719.81M or USD 1033,50 today, outshining Plus500 (LON:PLUS) once again.  The figure represents an increase by 2% compared to the CMC Market’s result from April 1.

We regularly keep track of publicly-held leading forex brokers’ market capitalization and draw up FX Market Cap Charts. The last brokers to swap places in our list were GMO Click Holdings Inc. (TYO:7177) and Monex Group Inc. (TYO:8698).

Looking at the chart for the last couple of days, we noticed that London-listed Plus500 and CMC keep swaping places. Obviously the competition between the two is getting pretty intense.

Here is how our FX Market Cap Chart looks today, April 19 around 14.30 GMT:

Market Cap by April 1 (in billions dollars)Market Cap by April 19 (in billions dollars)Change
Interactive Brokers16.016.684.2%
IG Group4.184.08-2.4%
CMC Markets1.011.03 (1033,50)2%
Plus5001.141.03 (1027,85)-9.6%

Although Plus500 reported a record-high quarterly revenue of $85.2 million in the first quarter of 2016, the total market value of shares of the UK forex broker dropped down by 9.6% for this period, coming in at GBX 715.87M or nearly USD 1.03B and falling behind the result of its competitor CMC Markets with just GBX 4M (approximately).

As a result, CMC Markets becomes third largest forex broker in terms of market cap once again, after Interactive Brokers Group, Inc. (NASDAQ:IBKR) and IG Group Holdings PLC (LON:IGG).

Only time can tell whether CMC Markets will retain their position or it is a temporary swap of places like the one that took place earlier in March and lasted for a couple of days.

CMC Markets went public with its initial public offering (IPO) earlier this year, setting the price of its initial public offering (IPO) at £2.40 per share. On April 1, the company’ share price opened at GBX 247.00 and today it came in at GBX 250.00, which is an increase by around 1.2%.

What is more, at the end of March CMC Markets reported a 13% client growth year-on-year.

CMC Markets was set up back in 1989 and now it runs offices in 14 countries across the globe, focusing on the markets in the UK, Australia, Germany, and Singapore. The broker offers trading in more than 10,000 financial instruments, including forex, shares, indices, commodities and treasuries via its proprietary trading platform Next Generation.

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