The FinancialIn an exclusive share on FinanceMagnates popular regulated broker Tickmill has announced financial and trading results for 2020. The broker was able to book monthly trading volumes of $142 billion and over 134,000 new trading accounts last year.
The broker’s daily trading volumes increased 14.7% from 2019 and, according to the broker, were the result of Covid-19 influenced market activity. On the new accounts side, the broker reported that some 56% of all new accounts opened in 2020 continued to remain active. Tickmill also announced that its referral business remained strong with over 9,000 introducing broker accounts and a total of more than $13 million paid in IB commissions.
While Tickmill reported net revenue of $68.6 million and a profit of $37.7 million for financial year 2019, it remains to be seen what revenue improvements were made in 2020, considering that the broker’s UK entity previously indicated a 150% increased in Q1 2020 revenues.