Retail FX broker share prices tumble – NAGA down 13%, Swissquote off 6%…
Two of 2021’s market darlings among public traded Retail FX brokers – Swissquote and NAGA.com – have performed the worst YTD in 2022.
Two of 2021’s market darlings among public traded Retail FX brokers – Swissquote and NAGA.com – have performed the worst YTD in 2022.
After reporting “record results” on Thursday, why did shares of Retail FX broker Swissquote trade down by more than 5%?
Client assets at Swissquote rose above CHF 55 billion at year end, up from CHF 50.2 billion as at June 30, 2021.
Keytrade Bank Luxembourg has been operating since 1999 and has 8,200 clients and EUR 1.7 billion in assets under custody.
For the past few months, Swissquote clients have been able to trade CFDs on Swiss, German, French and British blue chip stocks.
The Swissquote agreement covers perimeter advertising and hospitality at all 282 games of the UEFA Europa League.
Swissquote recorded net revenues of CHF 264.4 million and a pre-tax profit of CHF 134.6 million in the first half of 2021.
At its current share price Swissquote carries a market valuation of CHF 2.33 billion (USD $2.59 billion).
Swissquote estimates net revenues for the first half year of 2021 at around CHF 260 million.
Switzerland’s leading bank in online trading services Swissquote marks a milestone, as its market capitalisation reaches CHF 2 billion.