FCA-regulated Acetop Financial Limited published its financials for the fiscal year 2022, ending on December 31, reporting total revenue of £180,808, which is a yearly increase of about 6 percent. In addition, it reduced its losses to £334,640 from £687,536, which is a decline of more than 51.3 percent.

Performance of Acetop UK

Acetop offers trading services with contracts for differences (CFDs) and spread betting. While CFD instruments are popular globally, spread betting has advantages, particularly in the UK, for its tax-free nature.

The latest Companies House filing by the company highlighted that the UK entity of Acetop generated revenue from the trading side, with the provision of liquidity to its professional and corporate clients, and from its outsourced services.

The total notional trading volumes on the platform in 2022 stood close to $3 billion, with a focus on spot gold.

“2022 was a stable year for the company, continuing to make progress to achieve our purpose of offering a complete trading experience for our clients. We continue to look at how we can become more diversified and also how we can innovate our services to a more global audience,” the filing stated.

“We believe we have a strong offering in multiple markets to give our clients a great range of products to meet their needs. Hopefully, we can create a substantial scope for growth in the coming year.”

Further Capital Injection is Expected

However, the figures only show the performance of the UK-registered entity of Acetop. Its parent company, Acetop International Financial Group Limited, is incorporated in the British Virgin Islands and controlled by Wing Suen Lau, a Chinese national and a resident of Hong Kong.

The UK entity of Acetop was incorporated in early 2016 and received authorization from the Financial Conduct Authority (FCA) in 2022. It was set up with an initial capital of £5 million. The company was recapitalized with more than £1.65 million in shareholders’ equity at the end of 2020 and is expecting a further capital injection in 2023. The UK company held total assets of £2.74 million and net assets of £1.62 million at the end of 2022.

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