TradeStation Opened 21,052 New Accounts in January, 218% YoY Jump

by Arnab Shome
  • There was significant demand for the platform’s cryptocurrency services.
  • It will soon go public.
Trade station futures

TradeStation, an American online broker that is a subsidiary of the Japanese giant Monex Group, released its key metrics for January 2022, showing excellent growth across almost all parameters.

The broker ended the month with 195,969 total customer accounts, which is 44.7 percent higher than the previous year. This figure showcases the number of TradeStation customer accounts with a positive balance.

The number of gross new accounts on the trading platform also jumped to 21,052 last month. That figure was 218.2 percent higher than the reported number for January 2021. Out of the total newly open accounts, 14,147 are cryptocurrency accounts, including 13,450 accounts that were opened under a promotional program.

Additionally, the total customer assets and total customer cash held with the company jumped significantly in the month. TradeStation ended January with $11.5 billion in total customer assets, which is 16.7 percent higher than the previous year, and $3 billion in total customer cash, which is 5.9 percent higher than January 2021.

DARTs Dropped

However, the daily average revenue trades (DARTs) dipped last month to 239,227. Despite strong customer metrics, January DARTs decreased by 12.4 percent year-over-year.

Meanwhile, TradeStation confirmed last November that the company is going public with a blank-check company merger . It has already signed a deal with Quantum FinTech Acquisition Corporation, a special-purpose acquisition company (SPAC), and the value of the merged entity is expected to be around $1.43 billion.

For the October to December quarter, the company reported a 1.8 percent increase in its net revenue to $53.9 million, but it turned a pre-tax loss of $15.7 million and a net loss of $11.3 million.

TradeStation, an American online broker that is a subsidiary of the Japanese giant Monex Group, released its key metrics for January 2022, showing excellent growth across almost all parameters.

The broker ended the month with 195,969 total customer accounts, which is 44.7 percent higher than the previous year. This figure showcases the number of TradeStation customer accounts with a positive balance.

The number of gross new accounts on the trading platform also jumped to 21,052 last month. That figure was 218.2 percent higher than the reported number for January 2021. Out of the total newly open accounts, 14,147 are cryptocurrency accounts, including 13,450 accounts that were opened under a promotional program.

Additionally, the total customer assets and total customer cash held with the company jumped significantly in the month. TradeStation ended January with $11.5 billion in total customer assets, which is 16.7 percent higher than the previous year, and $3 billion in total customer cash, which is 5.9 percent higher than January 2021.

DARTs Dropped

However, the daily average revenue trades (DARTs) dipped last month to 239,227. Despite strong customer metrics, January DARTs decreased by 12.4 percent year-over-year.

Meanwhile, TradeStation confirmed last November that the company is going public with a blank-check company merger . It has already signed a deal with Quantum FinTech Acquisition Corporation, a special-purpose acquisition company (SPAC), and the value of the merged entity is expected to be around $1.43 billion.

For the October to December quarter, the company reported a 1.8 percent increase in its net revenue to $53.9 million, but it turned a pre-tax loss of $15.7 million and a net loss of $11.3 million.

About the Author: Arnab Shome
Arnab Shome
  • 6240 Articles
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About the Author: Arnab Shome
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
  • 6240 Articles
  • 79 Followers

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