AFX Group Reports Solid Financial Results for FY 2017, UK Revenue Up Fourfold

AFX Group, the UK trading arm of AFX Markets Ltd, which is authorised by the UK’s FCA and Cypriot CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision Read this Term, has released its annual report and year-end financial statements for the period ending April 30, 2018. The latest results on UK Companies House showed a healthy uptick in turnover in conjunction with a much higher profit relative to the comparable period of FY 2016.

For the fiscal year 2017‎, AFX Group’s total revenues surged to $4.9 million (£3.75 million) relative to just $2.16 million (£1.65 million) in the year prior– this was a growth by 127 percent year-over-year.

In addition, AFX Group experienced a decline in administrative expenses during the latest fiscal period, reported at $1.49 million (£1.14 million), rescinding by 6 percent year-over-year from $1.58 million (£1.21 million).

Operating profits were also pointed higher during FY 2017. Looking at the group’s final numbers for the financial year, which factored out interest receivable and other income, AFX Group reported ‎gains of $1.86 million (£1.42 million). This figure is seven times higher year-over-year from $238,000 (£182,803), by far its largest growth segment.

One of the group’s most noteworthy findings was the distribution of its revenues. Out of the aforementioned revenue figure, the firm generated £1.71 million, which is a more than four-fold increase from £410,000 the previous year. On the other end, the Cypriot brokerage earned total proceeds of £2.04 million, relative to £1.24 in 2016 .

AFX Group is the second largest European subsidiary of AFX Markets. The group has maintained an active emphasis on an MT4 offering for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, contracts-for-difference (CFDs), and spread betting services.

In 2016, the boutique financial investment firm consolidated a range of its products under two brands including its Quantic and STO offerings, part of its overall brand structure.