AFX Markets Reports Threefold Increase in Revenues

AFX Markets, online brokerage for Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs, has reported on the outcome of the company’s fiscal year that ended on April 30th 2017 in a filing with the UK Companies House. The firm registered a substantial increase in revenues when compared to the previous year. Turnover rose threefold to £1.65 million ($2.1 million), while cost of sales was marked at around £214,000.

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The company’s operating profit stood at £228,201 ($295,000) as administrative expenses increased to £1.2 million ($1.6 million), from just over £0.5 million during the previous fiscal year.

AFX Group has continued the development of its prime-of-prime broking unit, Quantic Prime. Earlier this summer the company announced the hire of Lisa Murphy as COO. With substantial experience in the industry after spending over 15 years dealing in 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 trading, the FCA-regulated company is aiming to continue developing its offering.

New Mobile Offering for Retail Brokerage STO

With the institutional business of the firm continuing its development, the company’s retail brokerage arm STO Markets is committed to mobile trading. Demand in this space continues to grow rapidly, with mobile-centric offerings across the industry gaining momentum, the ability to offer a stable and user-engaging solution on mobile devices is likely to be key going forward.

STO Markets picked one of the experts in mobile trading and joined the NetDania Markets concept in June this year. Some brokerages in the industry have registered mobile volumes growing massively, with Plus500 nearing 75% of the total, while others have consistently reported over half of their trading volumes executed via portable devices.

Finance Magnates has reached out to AFX Group for a comment on some key metrics in the company’s report and will update the article with further details.