TD Ameritrade Reports Growth in Mid-Year Mobile Trading Activity
OMAHA, Neb.--(BUSINESS WIRE)--Jul 31, 2018--TD Ameritrade 1 reports significant growth in mobile trading activity so far this year, with record-breaking trades placed on mobile devices and record daily average users on its mobile apps. TD Ameritrade took a look back at mobile growth over the last six months, comparing client usage to the same period during the prior year.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180731005095/en/
TD Ameritrade’s Mobile Trading 2018 Mid-Year Review (Graphic: Business Wire).
As equity markets entered correction territory at the start of the year, TD Ameritrade experienced record-breaking trade volume across its trading platforms, including mobile. With retail investors reacting to the market selloff in February, TD Ameritrade recorded an average of 503,000 users per day on its mobile apps and a record 229,000 mobile daily average revenue trades (DARTs) during the month of February. Despite elevated volatility in the following months, TD Ameritrade clients continued to increase their net exposure to the markets with mobile making up 26 percent of average client trades per day in May.
TD Ameritrade’s mobile averages for the six-month period ended June 30, 2018 include:An average of 210,000 mobile trades per day 24 percent of average client trades per day were mobile An average of 7,300 new users per day An average of 840,080 unique weekly logins
“Since the start of the Scottrade integration, we have seen an enormous increase in the adoption of our platforms and applications, including mobile,” said Steve Quirk, executive vice president of Trading and Education for TD Ameritrade. “Before February 2018, approximately 16 percent of Scottrade DARTs were through mobile. Today, 26 percent of DARTs from those clients who migrated over are through mobile – far exceeding our expectations.”
Over the last year, TD Ameritrade’s average mobile trades per day increased by 86 percent and unique mobile monthly users grew by 72 percent. For the quarter ended June 30, 2018, mobile made up 26 percent of DARTs, compared to 23 percent for the same period the year prior.
TD Ameritrade’s year-over-year mobile growth, comparing the six-month periods ended June 30, 2018 and 2017, is:An average of 210,000 mobile trades per day in 2018, up from an average of 113,000 mobile trades per day in 2017 An average of 1,355,000 unique mobile monthly users in 2018, up from an average of 789,000 unique mobile monthly users in 2017
“Based on the growth we’ve seen over the last six months, it’s evident that mobile trading has become more pervasive,” said Quirk. “By developing products and services that give investors greater access to the markets, we anticipate the rate at which our clients adopt mobile will continue to surpass our expectations.”
About TD Ameritrade Holding Corporation
TD Ameritrade provides investing services and education to more than 11 million client accounts totaling more than $1.2 trillion in assets, and custodial services to more than 6,000 registered investment advisors. We are a leader in U.S. retail trading, executing an average of more than 780,000 trades per day for our clients, more than a quarter of which come from mobile devices. We have a proud history of innovation, dating back to our start in 1975, and today our team of nearly 10,000-strong is committed to carrying it forward. Together, we are leveraging the latest in cutting edge technologies and one-on-one client care to transform lives, and investing, for the better. Learn more by visiting TD Ameritrade’s newsroom at www.amtd.com, or read our stories at Fresh Accounts.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005095/en/
CONTACT: TD Ameritrade Holding Corporation
Melissa Matson, 201-369-5933
Jeff Goeser, 402-597-8464
KEYWORD: UNITED STATES NORTH AMERICA NEBRASKA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING CONSULTING FINANCE
SOURCE: TD Ameritrade Holding Corporation
Copyright Business Wire 2018.
PUB: 07/31/2018 08:30 AM/DISC: 07/31/2018 08:31 AM