Trading 212 Sees 318% Rise in 2020 Revenue, Seeks German License

London-headquartered Trading 212 published its annual financials for 2020, reporting almost a 318 percent jump in its revenue. The group company generated £124.1 million in revenue in 2020, jumping from £29.7 million in the prior year.

Additionally, the pre-tax profits jumped 60 percent to £15.2 million. The after-tax profits came in at £10.1 million, improving from the previous year’s £8.5 million.

“This growth has been caused, partly by broader market trends and activity but also crucially by the increasing popularity of the platform and our product offering,” Trading 212 stated in the latest Companies House filing.

“External factors have also contributed to the significant demand for T212’s services and include both the well-publicized surge of public interest in the stock markets seen in early 2021 as well as the COVID pandemic.”

The surged market demand resulted in increased account openings and transaction volumes, the company detailed. In addition, it witnessed a significant jump in the activities of both new and existing users.

Moreover, the broker highlighted that the client money Client Money Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Read this Term and asset balances on its platform jumped from £30 million in 2019 to £2.1 billion in 2020. It ended 2021 with this figure skyrocketing to more than £3 billion.

Strengthening Business

Trading 212 operates globally, except for some restricted markets, and offers a wide range of services that include trading with contracts for differences (CFDs) instruments and stockbroking. The company has pivoted its focus heavily towards stockbroking in the past few years which turned out to be a massive success for it.

Though most of its operations were conducted under its license from the British and Bulgarian regulator, it gained another license from the Cyprus Securities and Exchange Commission (CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term) last year. It will migrate the Europen clients onboarded under the UK entity to the Cypriot entity in early 2022.

But, the broker is focused to strengthen its presence in Europe further and is now seeking a license from the German regulator.