TradeStation Continues to See Client Surge, Aprils DARTs Jumped 4%

The trading platform added 19,805 new accounts last month.

Total client assets held in the platform dipped.

The latest jump in the number of customers was a staggering 60 percent when compared with the same month of the previous year. The trading platform added 19,805 new accounts in April 2022.

Despite the increasing client numbers, the customer assets held by the platform are plummetting. It ended April holding $10.76 billion in total customer assets, which is down from the previous month‘s $12.3 billion and the previous year’s $10.84 billion. The customer cash on the platform also dropped to $2.8 billion.

The daily average revenue trades (DARTs) on the platform for the month came in at 226,760. This figure was 4.1 percent higher than the prior year but slipped from Marchs 232,104.

Though the new client onboarding remained strong for a while, the broker has been witnessing a decline in trading activities. It cited a decrease in trading activities to justify a 19 percent decline in its revenue between January and March, Finance Magnates reported earlier. It also reported a slump in net interest income, subscription, and other revenue streams.

Upcoming Public Listing

Meanwhile, the trading platform is on the path to listing its stocks on a public exchange in the United States. It has chosen the path of a reverse merger and has already inked a deal with a blank check company. TradeStations current owner, Monex Group will continue to hold around 80 percent ownership of the merged entity.

The platform, which primarily offers self-clearing equities, options, futures and futures options brokerage services, is also enhancing its cryptocurrency services. Earlier this year, the platform extended its crypto offerings to Puerto Rico.