IronFX UK Renamed Entity Sees Declining Revenues in 2015

8SAFE UK Limited, the former IronFX UK-based company, has reported its full accounts for the year ending December 31, 2015, which showed a notable decline across key metrics YoY, according to a recent regulatory filing.

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Back in November 2015, IronFX Global UK Limited officially changed its name to 8SAFE UK Limited, retaining its license with the UK’s Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term), (no. 585561). An overview of its year-end figures captures a decreasing performance across its revenues and profits for the period ending December 31, 2015.

As such, 8SAFE UK Limited disclosed revenues of $4,195,631 (£3,435,522) for the year ending December 31, 2015 – this corresponded to a decrease of -39.4% YoY from $6,918,085 (£5,663,969) for the period ending December 31, 2014.

In addition, 8SAFE UK also saw its 2015 profits take a slight tumble, registering a figure of $212,816 (£174,242) in December 31, 2015. Compared to the year prior however, the group’s profits waned from $243,973 (£199,752), or -12.8% YoY.

One area that did see a substantial increase in 2015 was across 8SAFE’s total assets. For the period ending December 31, 2015, the group reported its total assets at $16,828,435 (£13,778,270) reflective of a growth of 239.6% YoY from $4,954,724 (£4,056,594) for the year ending December 31, 2014.