TradeStation February DARTs Slips 15% despite Strong Client Figures

American online broker TradeStation, which is a fully-owned subsidiary of Monex Group, has published some of its key trading matrics for February 2022. The platform reported a 15.6 percent yearly drop in daily average revenue trades (DARTs) that came in at 242,846.

However, the latest DARTs remained almost flat month-over-month with a marginal rise of 1.5 percent. Additionally, February’s absolute DARTs figure is the highest since last April.

Strong Customer Figures

Despite the dull DARTs, the platform witnessed a massive surge in client accounts. It ended the month with 209,291 total customer accounts, which is 50.2 percent higher than the previous year.

Moreover, TradeStation added 19,750 gross new accounts last month, which is a jump of 85.3 percent from the same month of the prior year. It opened 13,178 cryptocurrency accounts, out of which, 12,541 were opened under a promotional program.

“TradeStation intends to monitor and evaluate the success of this crypto account-opening promotion to decide if and how long it should be continued, or be continued on a modified or different basis, including by evaluating the extent to which these TradeStation-initially-funded cryptocurrency accounts receive additional deposits from, and account revenues generated by, these customers.,” the platform explained.

In addition, customer assets on the trading platform have improved in recent months. The total customer assets on the platform touched $11.6 billion last month, which is 14.8 percent higher than the previous year. Also, total customer cash improved by 3.2 percent to $2.9 billion.

Meanwhile, TradeStation is focused on expanding its offerings. It recently added US 20-year treasury bond futures from CME to its trading platform. Furthermore, the company is on track to becoming public and has already signed a deal with a blank-check company. The merged entity will be valued at around $1.43 billion.