TradeStation Continues to See Client Surge, April’s DARTs Jumped 4%

The American brokerage platform, TradeStation, which is owned by the Monex Group, published the brokerage metrics for April 2022, reporting an almost 6.1 percent monthly rise in the total number of customers. It ended the month with 240,417 customer accounts.

The latest jump in the number of customers was a staggering 60 percent when compared with the same month of the previous year. 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 added 19,805 new accounts in April 2022.

Despite the increasing client numbers, the customer assets held by the platform are plummetting. It ended April holding $10.76 billion in total customer assets, which is down from the previous month’s $12.3 billion and the previous year’s $10.84 billion. Additionally, the customer cash on the platform dropped to $2.8 billion.

The daily average revenue trades (DARTs) on the platform for the month came in at 226,760. This figure was 4.1 percent higher than the prior year but slipped from March’s 232,104.

Though the new client onboarding remained strong for a while, the broker has been witnessing a decline in trading activities. It cited a decrease in trading activities to justify a 19 percent decline in its revenue between January and March, Finance Magnates reported earlier. In addition, it reported a slump in net interest income, subscription and other revenue streams.

Upcoming Public Listing

Meanwhile, the trading platform is on the path to listing its stocks on a public exchange in the United States. It has chosen the path of a reverse merger and has already inked a deal with a blank check company. TradeStation’s current owner, Monex Group will continue to hold around 80 percent ownership of the merged entity.

The platform, which primarily offers self-clearing equities, options, futures and futures options brokerage services, is enhancing its cryptocurrency services. Earlier this year, the platform extended its crypto offerings to Puerto Rico.