eToro Witnesses A 66% Increase in Its Total Commissions During Q3 2021

eToro, a global multi-asset investment platform, has published its financials for the third quarter of 2021, which shows that its net trading income stands at $176 million during the period, representing a 56% jump compared to the same period last year. According to the company, the growth was bolstered by the solid trading across crypto assets.

As a result of the strong trading revenue, eToro reported total commissions of $222 million in Q3 of 2021, soaring by 66% compared with the same period of last year. Moreover, the new users registering with the platform increased 8% to 1.6 million compared to Q3 of 2020.

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According to the company, the assets under administration increased $1.2 billion to $10.6 billion during the period from June 30 to September 30, 2021, driven by user deposits and asset price appreciation.

"As we approach the close of 2021, there is a growing number of retail investors around the world actively engaging with capital and crypto markets," said Yoni Assia, CEO and Co-founder of eToro. "Our users are investing in the companies they believe in and those they engage with. With market prices reaching all-time highs, we are seeing more widespread adoption of eToro's platform, and we expect retail participation to continue to grow as more people appreciate the benefits of taking control of their finances."