TD Ameritrade posted record retail trading activity and account growth during 2nd-quarter frenzy
Still, TD Ameritrade shares dipped as much as 1.4% before paring losses through the morning.
The numerous records arrive as casual day-trading and retail investing comprise an increasingly large share of market activity. The group made up just 10% of the market in 2019. Yet slashed commission fees and new volatility saw that proportion leapOther brokerages benefited from the chaotic period.reported a surge in retail trading, with daily average revenue trades soaring 111% to 1.75 million. Accounts grew 36% to 876,000. Client equity gained 33% and passed $200 billion for the first time.
"Over the course of the quarter, clients grew more comfortable with putting money into the market and taking on leverage, leading to client trading levels increasing and our margin loan balances recovering," Nancy Stuebe, director of investor relations at Interactive Brokers, said in a call with analysts, according to a transcript provided by Sentieo.
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