Switzerland-based online trading platform, Swissquote, revealed that a significant rise in net revenues and net profit along with a substantial increase in the number of active clients.
The broker reported net revenues of CHF 317.3 million in 2020, which is 37.6% higher than the net revenues registered in 2019.
Swissquote also noted a rise in the number of accounts. The company reported adding 50,636 accounts, reaching the highest number on record with a total of over 410,000 accounts. Client assets increased 23.4% in 2020 with CHF 39.8 billion.
The announcement also noted the company’s expansion in the European region. In 2019, Swissquote acquired Internaxx Bank S.A., which was then rebranded Swissquote Bank Europe SA and opened doors for Swissquote to further expand its product line in Europe.
In December 2020, the company also launched an online leasing offering with Tesla, focusing on a clear market trend towards e-mobility.
During the last year, Swissquote also continued its efforts of expanding in the cryptocurrency field. In 2020, the company extended its range of services for institutional clients to include professional crypto trading. Swissquote’s portfolio currently has 12 major cryptocurrencies, including Bitcoin, Ether and Tesos.
