eToro Witnesses 100% Yearly Jump in 2021 Commissions

eToro, a global multi-asset investment platform, has published its preliminary financials for the fourth quarter ending December 31, 2021. According to the company, its total commissions of the full year reached approximately $1.2 billion, representing more than 100% year-over-year growth.

In terms of the fourth quarter, the broker anticipated the total commissions for the period of between $285 million and $295 million, compared to $222 million in Q3 2021 and $164 million in Q4 2020.

Moreover, the new users registering with the platform expected to reach approximately 2.1 million in Q4 2021 compared to 1.6 million new registered users in Q3 2021 and 1.6 million new registered users in Q4 2020.

The broker further anticipate approximately 2.4 million funded accounts at December 31, 2021, compared to 2.1 million funded accounts as of September 30, 2021 and 1.0 million funded accounts as of December 31, 2020.

"Our preliminary fourth quarter 2021 financial metrics show continued strong growth and demonstrate that we are executing very well on our business plan. Our fourth quarter 2021 preliminary results point to full-year 2021 total commissions of approximately $1.2 billion, representing more than 100% year-over-year growth. We continue to see a strong increase in the number of users engaging with our platform across our global footprint and are very excited for what lies ahead in 2022 and beyond,"Yoni Assia, CEO and Co-founder of eToro said.

Earlier this month, eToro has reduced the minimum trade size for stocks, crypto and ETFs to $10. The company stated that the change aims to make its investment platform more accessible and user-friendly.