Swissquote has closed 2022 with a revenue of more than CHF 400 million and a pre-tax profit of at least CHF 185 million, the company confirmed in an announcement on Thursday. The figures are in line with the guidance provided by the Swiss firm last August.

Swissquote Ends 2022 with Financials In Line with Guidance

However, both financial parameters dropped significantly from the online broker's record numbers in 2021, when the annual net revenue was CHF 472 million, and the pre-tax profit was CHF 223 million. Thus, the latest revenue and pre-tax profits have reduced by over 15 percent and 17 percent, respectively.

"The diversified sources of revenues and a higher share of non-transaction based revenues have enabled Swissquote to navigate safely in a difficult market environment," Swissquote highlighted.

Swissquote's revenue for both halves of the year looks similar, as earlier it reported generating net revenue of CHF 200 million, which dropped by 24.4 percent from the comparable period of the previous year. Its net trading income for the first six months came in at CHF 30.7 million, which is down by 28 percent compared to the same period last year.

The client assets on the Swiss online trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term platform reached CHF 52.2 billion by the end of December 2022, which dropped from CHF 55 billion in 2021, but was higher than 2020's CHF 39.8 billion. Additionally, there was an inflow of CHF 7.7 billion in new monies on the platform last year, with which it is expecting to compensate "part of the negative market impact."

Check out the latest FMLS session on "All-Star Roundtable: Mixed Trends" in which the CEO of Swissquotes Bank, Marc Bürki, was a panelist.

Many Developments in Swissquote

On top of that, Swissquote expanded last year, both geographically and with its products. It obtained a Cyprus Investment Firm (CIF) license last year to boost its presence in the European Economic Area (EEA) member, and gained access to the Dubai Financial Market (DFM), a stock exchange based in the United Arab Emirates. Moreover, last year, it launched a cryptocurrency exchange to compete directly with other local competitors.

Meanwhile, the Swiss company faced cyber threats last year with "a massive DDoS attack" on its platform in November. Though it impacted the accessibility to the website, the platform did not suffer any significant outages.