It witnessed a windfall in the year from the retail demand for stockbroking.
It has gained a CySEC license last 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 years £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 T212s 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 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.
trengthening 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 ) 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.
