ATFX UK Continues to Post Higher Revenue with 35% Surge in FY20

AT Global Markets UK Limited, better known as ATFX UK, has published its financial results for the year ended on October 31, 2020, reporting a solid jump in trading volume and revenue.

As per the latest Companies House filing, the broker generated a turnover of more than £3 million, which is a significant increase from the previous year’s £2.23 million. That was a year-over-year increase of 35 percent. But, it ended the year at a loss of £766,416 due to an increase in administrative expenses.

Additionally, the broker highlighted that its overall results remained neutral.

ATFX UK is licensed by the Financial Conduct Authority (FCA) and is part of a group of entities, which are regulated across the world. It provides online trading services in 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 contracts for differences (CFDs) to retail and professional traders. The financial figures reveal only the performance of the UK-based entity, not of the whole group.

2020 was a busy year for the broker as it focused on the expansion of its activities with the development of the ATFX Connect brand, which is an institutional offering to professional clients. Furthermore, the company invested to enhance its marketing channels.

A Strong Balance Sheet

Apart from the business activities, ATFX UK strengthened its balance sheet. It raised additional capital in the year, issuing £4.65 million worth shares. The net asset of the company spiked to £6.34 million at the end of the financial year, from the previous year’s £2.45 million, which included a cash balance of £5.76 million.

Meanwhile, the brokerage group is expanding its operations in the European Union and opened an office in Poland last year. However, the broker earlier clarified that it will not serve any clients from the new office. Furthermore, the latest filing stated that the company will ‘continue to adjust the strategy to face the ongoing pandemic, the fallout of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term and continued changing regulatory landscape.