ATFX UK, the London-based subsidiary of global brokerage group, ATFX Group, saw a massive jump in its profit during the recent fiscal year that ended in October 2022. The profit climbed 273% to £838,189, which is up from £224,558 seen in the prior year.

ATFX UK Sees Profit and Revenue Growth

At Global Markets (UK) Limited, operator of the UK forex and contracts for difference (CFD) trading provider, disclosed the figures from its latest financial statement filed with the UK Companies House. The report also shows that the subsidiary’s revenue increased 7.6% year-over-year from £2.9 million to £3.2 million.

In addition, ATFX UK’s net asset, which measures its financial health, grew 12.8% to £7.4 million, which is up from £6.6 million from the previous fiscal year. The net asset includes cash balances of £4.3 million, the trading company noted.

As a result of these figures, ATFX UK said it has “a strong balance sheet and is well placed to achieve its long-term strategy.” The company pledged to keep marketing its business directly in the European Economic Area and other international territories where it is authorized.

“The key targets will be the existing high net worth clients, fund managers, brokers and banks who are looking to diversify their portfolio and are comfortable with the risk profile and volatility that investing and trading in derivatives can offer,” ATFX UK stated in the financial report.

ATFX Expands to Australia and UAE

As a global CFD broker, ATFX holds multiple regulatory licenses outside the United Kingdom. The brand is regulated in Cyprus, United Arab Emirates, Mauritius, St. Vincent and the Grenadines and Jordan. So far this year, ATFX has added two more jurisdictions to the list.

Earlier this month, the broker acquired Rakuten Securities’ Australian subsidiary to further strengthen its position in the Australian online trading market. In June, ATFX solidified its presence in the Middle East by obtaining an Arrangement and Advice license from the UAE.

Meanwhile, the broker marked its first entry into the non-fungible tokens (NFTs) industry in May. ATFX introduced its NFT Soft Launch to all internal staff members and is planning a public launch for later in the year.

On top of these, ATFX Connect, the institutional arm of the ATFX Group, recently reported a sharp increase in client satisfaction following the platform’s integration with Lucera’s LumeFX platform. LumeFX, an electronic trading platform for forex liquidity management, enables brokers to manage and configure how clients and liquidity providers interact.

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