London-based online broker ActivTrades announced that the company’s financial results for the first half of the year will be higher than expected due to growing trading volumes and the number of customers.
The company’s revenue for the first half of 2020 amounted to £ 30 million, which is three times more than 8 million received over the same period last year, and already significantly exceeds 20.6 million for the whole of 2019.
“We are very pleased with this performance. We were expecting a strong year but this goes beyond our estimates and bodes well for future growth,” said ActivTrades CEO Alex Pusco.
“The return of volatility globally has helped and we have also seen a strong increase in clients in various regions. At this turbulent time for markets, ActivTrades has benefitted from its reputation as one of the most efficient and trusted online brokerages,” he added.
Strong ActivTrades results were recorded against the backdrop of the Covid-19 crisis, which led to an increase in trading volumes and caused a surge in market volatility. This, in turn, contributed to the growth of revenue and profits in brokerage companies.
The broker said that it also benefited from expanding its product range and the influx of customers, who use the new ActivTrader web platform.
“These impressive numbers also highlight the success of our new platform ActivTrader, which is easy to use, very innovative and offers fast order execution. Clients are certainly rewarding us for this upgrade,” said Pusco.
This year, ActivTrades broker has added several new products. These include CFDs for more than 100 new shares worldwide, as well as two innovative CFDs linked to spot prices for WTI and Brent oil. Unlike traditional oil futures CFDs, these contracts are not carried forward, since they do not have a maturity date.
Pusco explained that these products were developed very quickly after an unforeseen drop in oil futures prices. The company wanted to offer its customers an alternative solution that would provide them with new investment opportunities and protect against risks associated with the transfer of positions.