Dutch online broker-dealer DEGIRO has reported a 62 per cent increase in the number of client accounts during the past year to 208,267.
Revenue, meanwhile, has increased to almost EUR29 million (+65 per cent) for the first nine months of 2017, while the number of transactions so far the year has surpassed 10 million (+ 55 per cent).
In Q3, DEGIRO processed 3,474,591 transactions and 22,474 thousand new accounts were opened. DEGIRO has recorded a net profit in all three of the quarters in 2017.
Gijs Nagel, CCO of DEGIRO, says: “Being able to provide a best in class product as well as the lowest costs in the industry is an unusual combination. We believe this can be possible by building the most efficient platform and taking advantage of economies of scale. DEGIRO has the most efficient structure in the industry which saves on costs for every transaction. These savings are returned to clients in the form of fees that are on average 80 per cent lower. Planned geographic expansion will boost growth, enabling us to increase investment into our product and services. A good example is our new app, which already has one of the highest industry ratings for a mobile platform.”