ActivTrades sees number of new accounts nearly double in Q2 2020
London-based ActivTrades has registered an impressive 73% increase in the number of new client accounts in the second quarter of 2020 compared to the same period of 2019, with the online brokerage benefiting from increased market volatility as well as the popularity of its ActivTrader Platform and new products.
The jump in new accounts came amidst the Covid-19 crisis, which has seen trading volumes climb and sparked a surge in volatility on markets. The brokerage’s quick and targeted response to the unexpected events allowed it to strengthen its position in the market.
“I am extremely proud of the response of each and every employee to the crisis,” said ActivTrades CEO Alex Pusco. “At an extremely challenging time for the whole business community, we ensured our service remained seamless and even enhanced our offering to clients.”
ActivTrades has rolled out various new products in the last few weeks, most notably CFDs on more than 100 new shares around the world, including Zoom Video Communications, the popular video conferencing company, and Cash products on stock indices such as the Brazilian Mini Ibovespa index and MDAX® - the international midcap index of Deutsche Börse.
ActivTrades launches new trading products
The company also created two CFDs tied to the spot price of WTI and Brent, which are proving particularly popular. These new products were launched in record time after the surprising turn of events which drove oil prices into unchartered, negative territory. Unlike traditional CFDs on oil futures, these contracts do not need rolling over to future dates as they do not have an expiry date.
“Responding quickly to changes in the market to better serve our clients is one of our priorities and it clearly set us apart from the competition,” said Mr. Pusco.
ActivTrades' state-of-the-art technology allowed it to switch promptly to a 'working from home' environment to protect its employees’ health. The rapid change made sure that all services provided to clients, including its award-winning 24-hour support, remained uninterrupted throughout the lockdown.
The brokerage also offered various webinars led by finance professionals who shared their experience and knowledge with ActivTrades' clients, giving them tips and tools to better navigate these volatile times.
These rapid adaptations and additions helped ActivTrades post its best ever half-year results. The company recorded £30 million in revenue for the first half of 2020, with a profit of £18 million, the highest in the company’s history. Revenue was more than treble the £8 million registered in the same period last year and already well above income of £20.6 million for the whole of 2019.
ActivTrades is a multiple award-winning brokerage and has been in operation since 2001. Besides its headquarters in London, it has offices in Milan, Nassau and Sofia.
