The UK-registered company netted £1.38 million on a revenue of over £6.18 million.
It offers services only to institutions and high-net-worth individuals.
AT Global Markets (UK) Limited, which operates the ATFX Connect brand, has closed the year 2023 with an annual turnover of more than £6.18 million, an increase of 95.8 per cent from the previous year’s £3.16 million. Profits also echoed this growth, as the net income came in at £1.38 million, a jump of 64.8 per cent from £838,189 in 2022.
A Solid Year for ATFX Connect
According to the company's latest Companies House filing, its sales and administrative costs also increased with the rise in revenue. The sales cost for the year 2023 came in at £1.9 million, higher by 119.2 per cent year-over-year, while the administrative cost also jumped to £2.86 million from the previous year’s £1.47 million, an increase of 94.5 per cent.
After the direct costs, the UK-based company generated an operating profit of over £1.4 million. Considering the receivable and payable interests, the company's pre-tax profits came in at £1.45 million, which is higher by 72.4 per cent from the figures of the previous year.
Strengthening the Brand Globally
ATFX is a recognisable brand in forex and CFDs trading. Under the Financial Conduct Authority (FCA) licence, the UK entity operates the ATFX Connect brand, which offers services only to institutions and high-net-worth clients. The ATFX Connect brand does not offer services to retail clients.
“The primary focus of the business is on the foreign exchange markets. The firm also offers contracts based on precious metals, oils, individual stocks, and stock indices,” the filing noted.
“The firm will continue to market itself directly to EEA and other international territories, where permitted. The key targets will be the existing high-net-worth clients, fund managers, brokers, and banks who are looking to diversify their portfolios and are comfortable with the risk profile and volatility that investing and trading in derivatives can offer.”
Apart from the UK subsidiary, the group also operates with licences in Cyprus, Mauritius, and the United Arab Emirates. It also entered Australia last year by acquiring Rakuten Australia's CFD business.
Meanwhile, the group is also strengthening its presence in the industry by hiring prominent veterans, including Drew Niv and John Bogue.
AT Global Markets (UK) Limited, which operates the ATFX Connect brand, has closed the year 2023 with an annual turnover of more than £6.18 million, an increase of 95.8 per cent from the previous year’s £3.16 million. Profits also echoed this growth, as the net income came in at £1.38 million, a jump of 64.8 per cent from £838,189 in 2022.
A Solid Year for ATFX Connect
According to the company's latest Companies House filing, its sales and administrative costs also increased with the rise in revenue. The sales cost for the year 2023 came in at £1.9 million, higher by 119.2 per cent year-over-year, while the administrative cost also jumped to £2.86 million from the previous year’s £1.47 million, an increase of 94.5 per cent.
After the direct costs, the UK-based company generated an operating profit of over £1.4 million. Considering the receivable and payable interests, the company's pre-tax profits came in at £1.45 million, which is higher by 72.4 per cent from the figures of the previous year.
Strengthening the Brand Globally
ATFX is a recognisable brand in forex and CFDs trading. Under the Financial Conduct Authority (FCA) licence, the UK entity operates the ATFX Connect brand, which offers services only to institutions and high-net-worth clients. The ATFX Connect brand does not offer services to retail clients.
“The primary focus of the business is on the foreign exchange markets. The firm also offers contracts based on precious metals, oils, individual stocks, and stock indices,” the filing noted.
“The firm will continue to market itself directly to EEA and other international territories, where permitted. The key targets will be the existing high-net-worth clients, fund managers, brokers, and banks who are looking to diversify their portfolios and are comfortable with the risk profile and volatility that investing and trading in derivatives can offer.”
Apart from the UK subsidiary, the group also operates with licences in Cyprus, Mauritius, and the United Arab Emirates. It also entered Australia last year by acquiring Rakuten Australia's CFD business.
Meanwhile, the group is also strengthening its presence in the industry by hiring prominent veterans, including Drew Niv and John Bogue.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Q2 Intelligence Report is Here: MiCA, AI, and Record Breaking Volumes
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
Executive Interviews with Joe Li & Simon Naish | ATFX | FMPS:24
In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
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In this Finance Magnates Executive Interview, Joe Li, Chairman at ATFX and Simon Naish, Country Head of Australia at ATFX Connect, discuss ATFX’s strategic growth in the APAC region, particularly focusing on their institutional arm, ATFX Connect. They highlight the importance of Australia as a strategic hub, the challenges of operating in a highly competitive and regulated market, and their plans for regional expansion across APAC. The conversation touches on the integration of advanced technology and multi-asset offerings, the significance of optimal execution tools, and the importance of tailoring solutions to meet the sophisticated demands of institutional clients. They also emphasize their strong regulatory compliance and their commitment to enhancing client experience through innovative tools and infrastructure.
#fmps #fmps24 #fmevents #ATFXConnect #APACFinance #InstitutionalTrading #FinancialTechnology #MarketExpansion
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Ready to Scale? Regtech in Australia, A Global View | FMPS:24
Ready to Scale? Regtech in Australia, A Global View | FMPS:24
In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
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In the effort to elevate Australian fintech on the global stage, RegTech presents a unique and compelling case. Despite the increasing demand for robust compliance solutions, Australia's RegTech sector—ranked third-largest globally—remains underfunded. Join this insightful fireside chat to explore the future of Australia’s RegTech hub and its global potential.
Key discussion points include uncovering the hidden opportunities in RegTech that VCs are overlooking, the necessary steps for increased governmental support, the readiness of the local ecosystem to collaborate across global regulatory regimes, and lessons learned from other leading fintech hubs around the world.
Speakers:
Dickie Currer, National Lead, Tech Australia Advocates
Deborah Young, CEO, The RegTech Association
#fmps #fmps24 #fmevents #RegTech #Fintech #AustralianFintech #GlobalCompliance #TechInnovation
📣 Stay updated with the latest in finance and trading!
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Resilience in Trading: From Third Class To World Class | FMPS:24
Resilience in Trading: From Third Class To World Class | FMPS:24
Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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Join Mario Singh, Founder and Chairman of Fullerton Markets, as he shares his life story, highlighting the traits that were required starting without financial knowledge to become a financial and trading expert recognised by world-renowned media like CNBC & Bloomberg.
#fmps #fmps24 #fmevents #trading #onlinetrading #tradingexpert #tradingjourney
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IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
IBs and Brokers: The Good, The Bad, The Ugly | FMPS:24
For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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For most brokers, IBs and trading educators are invaluable partners, driving highly targeted traffic from key regions. However, without proper management, these relationships can quickly turn sour. In this session, gain an insider’s perspective on the types of licenses IBs need in APAC, the crucial details in IB agreements that both parties must scrutinize, common disputes between IBs and brokers and effective resolutions, and the pros and cons of transitioning from IB to broker.
Speakers:
Melody Gao, Senior Lawyer, Sophie Grace
James Perry-Keene, Head of Strategic Partnerships, Pepperstone
Christopher Balanzategui, CEO, N3tworx
#fmps #fmps24 #fmevents #IBAgreements #BrokerPartnerships #TradingIndustry #APACFinance #FinancialRegulation
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