4T Markets UK Doubled Its FY24 Revenue, Narrowed Losses Significantly

The UK division of 4T Markets, which rebranded from Formax Prime Capital (UK), generated £469,322 in revenue in the fiscal year ending 31 March 2024. This figure doubled from the previous fiscal year’s £235,821.

A Technology Supplier

In addition to regular CFD trading services, 4T Markets has been offering technologies to other players in the retail trading industry. Now, the company's focus appears to be on technology, as it generated all of its FY24 revenue from white-label fees and none from spread and swap charges.

Despite being in the UK, the division's entire revenue was generated from outside the country, according to its disclosure in the Companies House filing.

The broker is now focusing on offering additional financial asset classes to its client base and is already seeking permission from the Financial Conduct Authority (FCA).

After sales costs, the gross profit of the UK company came in at £307,252, compared to £102,956 in FY23. Interestingly, it managed to reduce administrative expenses significantly to £324,747 from £403,000.

Considering interest income, 4T Markets’ UK business ended the year with a net loss of £17,380, significantly lower than the previous fiscal year’s loss of £300,157.

Restructuring of Ownership, Again

Following a downturn in business in 2018, the company had to reassess its operating model and management structure. Restructuring began in 2019 and continued through the financial year 2022. As part of this process, the majority ownership of the broker was transferred to Regalis Trading Solutions, completed in May 2021, while Cyprus-based 4T Global held 9.95 per cent of the UK business.

In the last fiscal year, Regalis transferred its entire stake to the Cypriot entity, making it the sole owner of the FCA-regulated UK division.

“Following the transfer of 100% of 4T Market’s shares to 4T Global Ltd on 1 December 2023, the Firm has become a member of a group of financial and technology companies in multiple jurisdictions,” the filing added.

“From a corporate governance perspective, and to enhance the structure of 4T Markets Limited, it is in the shareholder's plan to add additional members to the Board of Directors, including an independent Non-Executive Director, who will also assume the position of Consumer Duty Champion.”