E*TRADE Financial Corporation (NASDAQ: ETFC) began 2018 on a positive note by recording its best January in volumes and accounts number ever. The last month featured positive metric that collectively managed to secure a steady rise over yearly and monthly intervals.
In January 2018, E*TRADE revealed that Daily Average Revenue Trades (DARTs) pointed higher, coming in at 315,572 a day, an increase by a factor of 29 percent month-over-month from 215,689 in December 2017. Over a yearly timetable, E*TRADE’s January 2018 DARTs were also higher by 57 percent year-over-year, compared to 208,420 in January 2017.
In terms of E*TRADE’s net new accounts growth, the group added 91,667 gross new brokerage accounts in January 2018, compared to 75,033 set back in December 2017, which reflects a positive advance of more than 22 percent. In addition, this figure is also better when weighed against last year, as new brokerage accounts rose 47.0 percent from 62,340 in January 2017.
In total, this brings the company’s overall accounts to approximately 5.46 million in January 2018, which reflected a marginal increase of 3 percent compared to 5.42 million in the previous month, but almost a flat change year-over-year.
Another area of strength for the month was E*TRADE’s brokerage customer assets which rose to $404.9 million last month, up 26 percent year-over-year from $320.1 million in 2017. Meanwhile, the month on month comparison also shows an increase of 6 percent from $383.3 million in December.