Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • Michael Warren joins Ripple BoD forex news
  • Nukkleus adds Jamie Khurshid as COO forex news
  • CLS completes migration of settlement service to new platform forex news
  • eToro issues notice to traders with positions in Ryanair forex news
  • Beware! vonway is an offshore broker! Your investment may be at risk. forex news
  • FX week in review: Trading 212 capital raise, Libertex suspended, Usain Bolt, executive moves forex news
  • INFINOX hires Valbury vet James Smith to head exchange-traded offering forex news
  • ASIC has cancelled Brendan Kennedy’s AFS licence forex news

eToro registers steep rise in trading income in Q3 2021

Posted on 2021-11-13 By admin No Comments on eToro registers steep rise in trading income in Q3 2021

Online trading broker eToro today posted its financial report for the third quarter of 2021, revenues marking a solid rise from the year-ago quarter.

For the third quarter of 2021, total commissions were $222 million, up 66% versus the corresponding period in 2020, driven by strong trading revenue, higher interest income and higher other income.

Net trading income was $176 million, up 56% from the year-ago quarter, driven by strong trading across a diverse range of cryptoassets.

Total operating expenses excluding stock-based compensation and merger-related expenses were $203 million, up 94% year-over-year, due to higher marketing expenses and investments to scale and support eToro’s fast-growing business.

The broker registered a net loss of $98 million in the third quarter of 2021, primarily due to a non-cash charge of $60 million in stock-based compensation for eToro employees and $11 million of transaction costs related to the business combination with FTCV. Adjusted EBITDA for the third quarter of 2021 was negative $25 million, largely driven by the Company’s significant investments in growth initiatives, including marketing.

Assets under administration were $10.6 billion as of September 30, 2021, an increase of $1.2 billion from June 30, 2021, driven by both user deposits and asset price appreciation.

Shalom Berkovitz, CFO and Deputy CEO said:

“The third quarter of 2021 saw lower levels of volatility and trading activity following the highs of H1, as we had anticipated, though activity remained significantly above levels seen in 2020. To date in the fourth quarter, we’ve seen a strong uptick in activity, particularly in cryptoassets.

“We continue to see strong engagement and user growth on the eToro platform, as evidenced by the addition of more than 160,000 funded accounts in the third quarter of 2021. We remain excited about eToro’s long-term growth opportunities given the strong secular trend towards self-directed investing and the growing participation of retail investors in global markets, as well as our differentiated offerings. eToro’s focus continues to be on growth and therefore, in periods where we generate revenue in excess of our original forecast, we will look to reinvest these funds into marketing channels and the necessary infrastructure to scale and support our fast-growing business.”

Regarding the proposed merger with FinTech Acquisition Corp. V (NASDAQ:FTCV), the company continues to target a closing in the fourth quarter of 2021.

forex news Tags:forex-news

Post navigation

Previous Post: FCA warns former FXVC clients about scammers
Next Post: Global Brokerage posts stockholders’ deficit of $183.5M at end of Q3 2021

Related Posts

  • CFTC marks progress in action against crypto scam Global Trading Club forex news
  • CFTC, former HSBC exec secure additional time for depositions forex news
  • Decision on $170M distribution for BlueCrest victims gets delayed forex news
  • Angela Crawford-Ingle buys 14k shares in TP ICAP forex news
  • Forex Cartel trader insists DOJ should not withhold evidence forex news
  • Acuity’s Signal Centre launches Signal Stream intuitive platform forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • HK watchdog takes disciplinary action against 33 Financial Services Limited forex news
  • Cboe issues alert about fraudulent “CboeX” website forex news
  • US payment giants Visa, Mastercard and PayPal suspend Russia operations forex news
  • Nadex bans trader for violation of Membership Agreement forex news
  • Cboe Futures Exchange announces Block and ECRP Trade API forex news
  • Saxo Bank February trading volumes flat at $21.0B ADV forex news
  • Cboe Europe, EuroCCP get Dutch regulatory approvals for new derivatives market forex news
  • Citi posts 11% Y/Y drop in Markets and Securities Services revenues in Q4 2021 forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme