Global multi-asset investment platform eToro has published its financial results for the fourth quarter of 2021 and the full year
The company reported a significant rise in total commission in the fourth quarter to $304 million. The numbers were 85% higher than the same period in 2020.
Net trading income surged 50% in the last three months of the year to $237 million. The Israel-based investment platform registered 2.1 million new users representing a 31% increase compared to Q4 2020. 26.9 million total users were registered as of 31 December 2021.
Yoni Assia, the CEO and Co-Founder of eToro, issued the following statement:
eToro closed 2021 with a strong fourth quarter, generating over $300 million in total commissions. We are extremely proud of our accomplishments in 2021, some of which include growing the eToro network by more than 9 million registered users while more than doubling our funded accounts, adding over 900 Popular Investors and 10 new Smart Portfolios to our investment offering, hiring Lule Demmissie as our U.S. CEO, launching equities investing in the U.S., launching eToro Money in the U.K., and redesigning the eToro application to significantly improve the user experience. The retail investment landscape continues to evolve at a rapid pace, and we believe eToro is uniquely positioned to provide users with a simple and transparent way to access a broad array of global financial markets. We are very excited for what lies ahead for eToro and our users in the coming years.
The global trading company also revealed that 2.4 million funded accounts were registered as of 31 December 2021, up 137% from the previous year. Assets under administration reached $10.7 billion on 31 December 2021.
eToro reported it had higher marketing expenses and investments in fourth quarter to support growth, including a significant increase in global headcount. Total operating expenses came in at $263 million, up 68% from the previous year.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
