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Thursday, February 16, 2023
HomeTipsTrading 212 Sees 318% Rise in 2020 Income, Seeks German License

Trading 212 Sees 318% Rise in 2020 Income, Seeks German License

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London-headquartered Trading 212 printed its annual financials for 2020, reporting nearly a 318 p.c soar in its income. The group firm generated £124.1 million in income in 2020, leaping from £29.7 million within the prior 12 months.

Additionally, the pre-tax earnings jumped 60 p.c to £15.2 million. The after-tax earnings got here in at £10.1 million, enhancing from the earlier 12 months’s £8.5 million.

“This growth has been caused, partly by broader market trends and activity but also crucially by the increasing popularity of the platform and our product offering,” Trading 212 acknowledged within the newest Companies House submitting.

“External factors have also contributed to the significant demand for T212’s services and include both the well-publicized surge of public interest in the stock markets seen in early 2021 as well as the COVID pandemic.”

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The surged market demand resulted in elevated account openings and transaction volumes, the corporate detailed. In addition, it witnessed a major soar within the actions of each new and present customers.

Moreover, the dealer highlighted that the  consumer cash  and asset balances on its platform jumped from £30 million in 2019 to £2.1 billion in 2020. It ended 2021 with this determine skyrocketing to greater than £3 billion.

Strengthening Business

Trading 212 operates globally, aside from some restricted markets, and presents a variety of companies that embrace buying and selling with contracts for variations (CFDs) devices and stockbroking. The firm has pivoted its focus closely in the direction of stockbroking previously few years which turned out to be a large success for it.

Though most of its operations had been performed underneath its license from the British and Bulgarian regulator, it gained one other license from the Cyprus Securities and Exchange Commission ( CySEC  ) final 12 months. It will migrate the Europen shoppers onboarded underneath the UK entity to the Cypriot entity in early 2022.

But, the dealer is concentrated to strengthen its presence in Europe additional and is now looking for a license from the German regulator.

London-headquartered Trading 212 printed its annual financials for 2020, reporting nearly a 318 p.c soar in its income. The group firm generated £124.1 million in income in 2020, leaping from £29.7 million within the prior 12 months.

Additionally, the pre-tax earnings jumped 60 p.c to £15.2 million. The after-tax earnings got here in at £10.1 million, enhancing from the earlier 12 months’s £8.5 million.

“This growth has been caused, partly by broader market trends and activity but also crucially by the increasing popularity of the platform and our product offering,” Trading 212 acknowledged within the newest Companies House submitting.

“External factors have also contributed to the significant demand for T212’s services and include both the well-publicized surge of public interest in the stock markets seen in early 2021 as well as the COVID pandemic.”

Keep Reading

The surged market demand resulted in elevated account openings and transaction volumes, the corporate detailed. In addition, it witnessed a major soar within the actions of each new and present customers.

Moreover, the dealer highlighted that the  consumer cash  and asset balances on its platform jumped from £30 million in 2019 to £2.1 billion in 2020. It ended 2021 with this determine skyrocketing to greater than £3 billion.

Strengthening Business

Trading 212 operates globally, aside from some restricted markets, and presents a variety of companies that embrace buying and selling with contracts for variations (CFDs) devices and stockbroking. The firm has pivoted its focus closely in the direction of stockbroking previously few years which turned out to be a large success for it.

Though most of its operations had been performed underneath its license from the British and Bulgarian regulator, it gained one other license from the Cyprus Securities and Exchange Commission ( CySEC  ) final 12 months. It will migrate the Europen shoppers onboarded underneath the UK entity to the Cypriot entity in early 2022.

But, the dealer is concentrated to strengthen its presence in Europe additional and is now looking for a license from the German regulator.

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