Swissquote Sees Another Record Year as 2021 Profits Jump 111%

Swissquote, an online financial trading services provider, announced on Thursday its yearly financial results for 2021. The company reported record results for the period, beating its revenue and profit guidance.

The net revenue of the broker for the year came in at CHF 472 million, which is almost 49 percent higher than the previous year’s figure, according to the official press release shared with Finance Magnates.

The Switzerland-headquartered company generated a pre-tax profit of CHF 223 million for the year. This number came in more than 111 percent higher than CHF 105.6 million it generated in 2021, which was a record at that time.

The company highlighted that the record results for the year were driven by customer growth and organic net new money inflow of CHF 9.6 billion, which jumped from the previous year’s CHF 5.3 billion. Also, the client asset on the trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term jumped above CHF 55 billion, compared to 2021’s CHF 39.8 billion.

Beating Guidance

The broker closed the record year after a strong half-year in the first six months of 2021. For that period, it reported CHF 260 million in net revenue and over CHF 130 million in pre-tax profits. The latest yearly numbers even exceeded the company’s own guidance released earlier in August.

Meanwhile, Swissquote is focused on its expansion and already taking steps to grow its market footprint within Europe. Earlier this month, it finalized the acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Keytrade Bank Luxembourg, a company with almost EUR 1.7 billion in assets under custody.

Furthermore, it is expanding its products in both contracts for differences (CFDs) and cryptocurrency markets and is strengthening the brand with sports sponsorships.