London-headquartered ActivTrades, an online forex and CFDs broker, has published its annual financials for 2020, ending on December 31, reporting a record in both turnover and profits. The broker highlighted that an increase in trading volumes among its existing clients and an influx of new traders have resulted in the best year for it since its inception in 2001.
The press release shared with Finance Magnates detailed that the revenue of the broker from its trading services more than doubled at £46.5 million. The pre-tax profits of the company came in at £21.8 million.
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Following the Industry Trend
ActivTrades’ business suffered in 2019 from the impact of ESMA restrictions, which was in line with the trend across the European trading industry. It reported a turnover of £20.6 million for that year, along with a loss of £7.1 million.
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But, the brokerage business pivoted sharply with the Covid-spurred volatility, which impacted all financial markets. Out of the total 2020 revenue of ActivTrades, £30.9 million were generated in the first half as most of the activities happened in March and April.
Additionally, the number of new customers with funded accounts onboarded by the broker jumped by 31 percent, while the number of active clients increased by 9 percent.
Commenting on the record numbers, ActivTrades CEO, Alex Pusco said: “We are extremely pleased with this strong set of results and grateful to our growing number of clients for choosing us as their trusted brokerage. Providing excellent customer service and developing state-of-the-art technology are at the core of our business. We will keep innovating to ensure we provide our customers a superior trading experience.”
Apart from its headquarters in London, ActivTrades expanded its geographical presence last year. It opened a new Luxembourg office to strengthen its European operations after Brexit.