Valuating Self Wealth & Competition Risk 2021 and beyond, page-2

May sure you differentiate the terms registrations (new customers) versus active traders. I have roughly calculated that active traders make up 30-40% of all the people that register. If you divide total trades per quarter by these active traders then you get about 6-7 trades per active trader. Peak trades per trader is around Q4 and is lowest in Q2. Please note that the less than active trader still contribute to profit but these people are really not mentioned.