The preliminary financial data for 2024 released by Swisquote has significantly improved compared to previous expectations, mainly driven by market trends and activities in the cryptocurrency sector. The Swiss online trading platform reported a net income of approximately 655 million Swiss francs for the year and a pre tax profit of at least 345 million Swiss francs, exceeding the mid year revised forecast.
In the fiscal year 2024, there was a net inflow of 8.3 billion Swiss francs, bringing the total assets of customers to 76 billion Swiss francs by the end of the year. In contrast, the new capital inflow in 2023 is only 5 billion Swiss francs. This growth is consistent with the market recovery and the trend of continued investor activity towards cryptocurrencies at the end of the year.
The annual income distribution shows an upward trend, with a contribution of 338 million Swiss francs in the second half of the year, slightly higher than the 316.9 million Swiss francs achieved in the first half of the year. Pre tax profit also increased to CHF 175 million in the second half of the year, demonstrating continuous improvement in business operations.
Although Swisquote partially attributes its outstanding performance to the demand for cryptocurrency, specific data in this field has not been disclosed. This market has experienced significant fluctuations during the year, including a new high in Bitcoin prices. These fluctuations are driven by global economic and political developments, emphasizing that this volatility may provide favorable conditions for trading activities on the Swisquote platform. Swisquote's annual updated financial report and new medium-term outlook are expected to be released in March 2025. The company's financial performance has consolidated its important position as an online broker in Europe, while demonstrating its resilience in responding to changes in market conditions and investor demand. However, as market volatility weakens, the sustainability of its growth still deserves attention.
Swissquote Bank was established in 1996 and is a Swiss licensed bank regulated by the Swiss Financial Market Supervisory Authority (FINMA); Ruixun Bank is also a leading online financial trading broker in Switzerland, providing leveraged forex CFD and other trading instruments. Ruixun Group currently has over 500 employees and offices in London, Dubai, Malta, and Hong Kong, providing services to 300000 individual and institutional clients in over 120 countries worldwide, with assets under custody exceeding 18 billion Swiss francs.
The biggest advantage of Ruixun Bank is financial security, with each customer enjoying a capital compensation guarantee of 100000 Swiss francs from the Swiss government.
Compared to using other foreign exchange platforms, the biggest advantage of trading foreign exchange at Ruixun Bank is the safety of funds; According to the Swiss Banking Act implemented in 2005, if a Swiss bank goes bankrupt, the Swiss government has a maximum capital compensation of 100000 Swiss francs for each customer. The content related to deposit protection can be found on the official website of the Swiss Banking and Securities Deposit Protection Agency (esisuisse)（ https://www.esisuisse.ch/en ）There are detailed explanations for each, and you can also find Swissquote Bank SA as its banking member on the official website of eSuisse.
Compared with foreign exchange trading platforms in other countries, Ruixun Bank is more suitable for large funds (most foreign exchange platforms that retail investors can access, regardless of whether they are regulated or not, basically do not have account fund insurance. Taking the example of the bankrupt platform PFGBest in the United States, after its collapse, its foreign exchange margin customers are basically unable to retrieve their funds).
Other advantages of using Ruixun Bank to trade foreign exchange: having your own Swiss bank account (IBAN) effectively avoids foreign exchange controls.
At present, China's foreign exchange control is still relatively strict. If you use other foreign exchange trading platforms, whether it is wire transfer deposit or wire transfer withdrawal, because these foreign exchange brokers use company bank accounts, your funds are easily blocked by domestic banks. But if you open a foreign exchange trading account with Ruixun Bank, Ruixun Bank will assign you an IBAN (International Bank Account Number), which is equivalent to having your own Swiss personal bank account in Switzerland. When making wire transfers, it is a private to private transfer (you transfer money to your own Swiss personal bank account), so it is generally not subject to foreign exchange control by domestic banks.
Ruixun Bank: a bank listed on the Swiss Stock Exchange
Ruixun Bank was successfully listed on the SIX Swiss Exchange on May 29, 2000, with the stock code SQN. Compared to unlisted forex brokers, Ruixun Bank's financial situation is more transparent.
Ruixun Bank - Official forex and online financial trading partner of Premier League team Manchester United
Ruixun Bank is the official foreign exchange and online financial trading partner of English Premier League team Manchester United. Richard Arnold, Managing Director of Manchester United Group, commented on this: "Ruixun is one of the top 10 foreign exchange brokers in the world and currently the strongest and most reliable competitor in the market. The technology and services provided by the company surpass its peers, allowing customers to grasp their own wealth. Like Manchester United, Ruixun pursues perfection and innovation, reshaping the future of the banking industry and strengthening its industry
