ATC
Brokers' UK-focused operations have experienced a robust 12 months ending April
30. In fiscal year 2024 (FY24), the company generated significantly higher
turnover and gross profit compared to the previous year, allowing it to regain
profitability.
ATC Brokers UK Earns £800K
in FY24
According
to the latest report published in Companies House by ATC Brokers
Limited, the UK operator of the FX/CFD brand ATC Brokers, turnover in FY24
reached £5.6 million, nearly tripling from £2.1 million reported the previous
year.
Despite a
fivefold increase in sales costs to £2.6 million, the company still managed to
achieve a gross profit of over £3 million, representing a 100% jump compared to
fiscal year 2023 (FY23). Ultimately, operating profit stood at just under £1
million, with net profit at £799,000, compared to a loss of £47,600 reported
the previous year.
The
company's net assets also increased significantly, valued at £2.4 million at
the end of the fiscal year, up from £1.6 million in FY23.
ATC Brokers
is not the only UK broker that has recently published financial results for its
FCA-licensed company. Finance Magnates also reported on the annual
results of Trade Capital UK Ltd, operator of TRADE.com, whose net profit in
2023 jumped by almost 60% to nearly £220,000.
ATC is
licensed in the UK and has held another authorization in the Cayman Islands for
almost six years. The company is significant in providing FX/CFD services
outside the UK, especially since Brexit.
Earlier
this year, the firm became involved in a legal case concerning a suspected $78
million Ponzi scheme called Oasis. Burton Wiand, acting as the receiver for
Oasis International Group, sued the forex and CFD broker ATC Brokers Ltd and
the company's co-founder, David Manoukian. Wiand alleged their involvement in
fraudulent transfers. The district court initially dismissed Wiand's claims,
citing a lack of standing.
Mixed Results for Other UK
Brokers
While ATC
Brokers and the aforementioned TRADE.com can consider 2023 successful, not all
firms were equally fortunate. Last week, Finance Magnates reported that Trade
Nation, a spread betting and CFD provider, saw lower
turnover in its UK operations, resulting in a financial loss of £2.2 million.
The
company's main headquarters in London, operating as Trade Nation Financial UK
Limited under FCA license, recently published its 2023 results. These showed a
decline from 2022, with a 5% decrease in turnover and over 300% drop in
operating profit.
According to a separate report, the FCA-regulated ParFX also experienced a 14% revenue drop in 2023 due to
decreased client numbers, with net profit shrinking by 84% to $934,000.
However, the wholesale electronic trading platform for spot Forex products, a
subsidiary of the Tradition UK Group, plans to expand its global distribution
network and broaden its “FX electronic trading community.”
ATC
Brokers' UK-focused operations have experienced a robust 12 months ending April
30. In fiscal year 2024 (FY24), the company generated significantly higher
turnover and gross profit compared to the previous year, allowing it to regain
profitability.
ATC Brokers UK Earns £800K
in FY24
According
to the latest report published in Companies House by ATC Brokers
Limited, the UK operator of the FX/CFD brand ATC Brokers, turnover in FY24
reached £5.6 million, nearly tripling from £2.1 million reported the previous
year.
Despite a
fivefold increase in sales costs to £2.6 million, the company still managed to
achieve a gross profit of over £3 million, representing a 100% jump compared to
fiscal year 2023 (FY23). Ultimately, operating profit stood at just under £1
million, with net profit at £799,000, compared to a loss of £47,600 reported
the previous year.
The
company's net assets also increased significantly, valued at £2.4 million at
the end of the fiscal year, up from £1.6 million in FY23.
ATC Brokers
is not the only UK broker that has recently published financial results for its
FCA-licensed company. Finance Magnates also reported on the annual
results of Trade Capital UK Ltd, operator of TRADE.com, whose net profit in
2023 jumped by almost 60% to nearly £220,000.
ATC is
licensed in the UK and has held another authorization in the Cayman Islands for
almost six years. The company is significant in providing FX/CFD services
outside the UK, especially since Brexit.
Earlier
this year, the firm became involved in a legal case concerning a suspected $78
million Ponzi scheme called Oasis. Burton Wiand, acting as the receiver for
Oasis International Group, sued the forex and CFD broker ATC Brokers Ltd and
the company's co-founder, David Manoukian. Wiand alleged their involvement in
fraudulent transfers. The district court initially dismissed Wiand's claims,
citing a lack of standing.
Mixed Results for Other UK
Brokers
While ATC
Brokers and the aforementioned TRADE.com can consider 2023 successful, not all
firms were equally fortunate. Last week, Finance Magnates reported that Trade
Nation, a spread betting and CFD provider, saw lower
turnover in its UK operations, resulting in a financial loss of £2.2 million.
The
company's main headquarters in London, operating as Trade Nation Financial UK
Limited under FCA license, recently published its 2023 results. These showed a
decline from 2022, with a 5% decrease in turnover and over 300% drop in
operating profit.
According to a separate report, the FCA-regulated ParFX also experienced a 14% revenue drop in 2023 due to
decreased client numbers, with net profit shrinking by 84% to $934,000.
However, the wholesale electronic trading platform for spot Forex products, a
subsidiary of the Tradition UK Group, plans to expand its global distribution
network and broaden its “FX electronic trading community.”
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Hantec Markets' UK Unit Turns a Loss in 2023 due to "Additional IT Expenditure"
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
📣 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:
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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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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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/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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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
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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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