Company still paid $5 million dividend to shareholders.
Globally, reported double-digit revenue and account growth in H1 2024.
Capital.com's
UK branch has published its financial results for 2023, reporting a significant
decrease in net profit compared to the previous year. Although revenue saw a
modest increase, income shrank by over 60% to $1.5 million.
Capital.com UK Reports
Substantial Profit Decline in 2023
Capital Com
(UK) Limited is responsible for Capital.com's brokerage operations in the UK. The
company's net trading profit reached $29.7 million, compared to $29.1 million
reported in 2022. Thanks to much lower direct expenses, gross profit stood at
$26.9 million, up from $22.8 million the previous year.
However,
Capital.com UK experienced a significant increase in administrative costs,
which amounted to $23 million, up $7 million from $17 million in the previous
period. As a result, net profit fell to $1.5 million, compared to $4.1 million
in 2022, shrinking by over 60%.
It's worth
noting that the company paid a dividend of $5 million last year, whereas it did
not share profits with shareholders in the previous year. The report also
indicates that the company “invested in IT and second-line infrastructure
employees to support” its ability to meet regulatory requirements.
Consequently, staff costs rose from just under $11 million to over $16.5
million.
“We increased
our headcount by 27%, bringing in additional expertise to provide even greater
levels of service and support,” the company commented in an emailed statement. “These
substantial investments, while essential for our long-term success, have
resulted in a decline in reported profits for the year.”
“Despite
these planned expenditures, Capital.com UK remains in a strong financial
position with £9.2 million in cash and cash equivalents, and £7.4 million in
capital. In 2023, overall income increased to £29.7 million while client funds
grew to £20.5 million from the previous year.”
The
company's total assets remained virtually unchanged at just over $30 million,
similar to 2022.
In March, Finance Magnates reported that the UK arm of Capital.com suspended new account creations in the country. According to an emailed statement, the move was made to ensure the company will “continue to deliver an
uncompromised level of service to existing clients in the UK.”
When
visiting the Capital.com website in the UK and attempting to open an account,
users are greeted with a message stating that the company has “made the
decision to pause onboarding new clients in the UK for now.”
How Does Capital.com
Perform Overall
It's
important to remember that the results reported by Capital Com (UK) Limited
represent only a fraction of Capital.com's entire operation. The broker's main
headquarters is in Cyprus, under the CySEC's regulation, and it also
operates several other entities worldwide.
Recently,
the company reported its global trading volumes, which exceeded $1.2 trillion
in 2023. The group's latest results cover the first half of 2024, during which
revenue hit “triple-digit millions.”
From
January to June, revenue jumped by 35%, and the total number of registered
accounts increased by 63%. Trading volume reached $725 billion.
“These results underscore our strategic investments in talent, IT, and second-line systems, which are driving our global growth,” said Ariel Segev, Group Chief Financial Officer at Capital.com.
Meanwhile,
the firm also appointed Jessica Bliesner as the new Group Chief Operating
Officer. She has already assumed the role and is based in the broker's London
offices.
A month ago, Capital.com started a new initiative with the crowdsourced security platform Integrity, offering its clients a bug bounty program. Thanks to this move, the
broker wants to commit more to the safeguarding of user data and the integrity
of its platform.
Capital.com's
UK branch has published its financial results for 2023, reporting a significant
decrease in net profit compared to the previous year. Although revenue saw a
modest increase, income shrank by over 60% to $1.5 million.
Capital.com UK Reports
Substantial Profit Decline in 2023
Capital Com
(UK) Limited is responsible for Capital.com's brokerage operations in the UK. The
company's net trading profit reached $29.7 million, compared to $29.1 million
reported in 2022. Thanks to much lower direct expenses, gross profit stood at
$26.9 million, up from $22.8 million the previous year.
However,
Capital.com UK experienced a significant increase in administrative costs,
which amounted to $23 million, up $7 million from $17 million in the previous
period. As a result, net profit fell to $1.5 million, compared to $4.1 million
in 2022, shrinking by over 60%.
It's worth
noting that the company paid a dividend of $5 million last year, whereas it did
not share profits with shareholders in the previous year. The report also
indicates that the company “invested in IT and second-line infrastructure
employees to support” its ability to meet regulatory requirements.
Consequently, staff costs rose from just under $11 million to over $16.5
million.
“We increased
our headcount by 27%, bringing in additional expertise to provide even greater
levels of service and support,” the company commented in an emailed statement. “These
substantial investments, while essential for our long-term success, have
resulted in a decline in reported profits for the year.”
“Despite
these planned expenditures, Capital.com UK remains in a strong financial
position with £9.2 million in cash and cash equivalents, and £7.4 million in
capital. In 2023, overall income increased to £29.7 million while client funds
grew to £20.5 million from the previous year.”
The
company's total assets remained virtually unchanged at just over $30 million,
similar to 2022.
In March, Finance Magnates reported that the UK arm of Capital.com suspended new account creations in the country. According to an emailed statement, the move was made to ensure the company will “continue to deliver an
uncompromised level of service to existing clients in the UK.”
When
visiting the Capital.com website in the UK and attempting to open an account,
users are greeted with a message stating that the company has “made the
decision to pause onboarding new clients in the UK for now.”
How Does Capital.com
Perform Overall
It's
important to remember that the results reported by Capital Com (UK) Limited
represent only a fraction of Capital.com's entire operation. The broker's main
headquarters is in Cyprus, under the CySEC's regulation, and it also
operates several other entities worldwide.
Recently,
the company reported its global trading volumes, which exceeded $1.2 trillion
in 2023. The group's latest results cover the first half of 2024, during which
revenue hit “triple-digit millions.”
From
January to June, revenue jumped by 35%, and the total number of registered
accounts increased by 63%. Trading volume reached $725 billion.
“These results underscore our strategic investments in talent, IT, and second-line systems, which are driving our global growth,” said Ariel Segev, Group Chief Financial Officer at Capital.com.
Meanwhile,
the firm also appointed Jessica Bliesner as the new Group Chief Operating
Officer. She has already assumed the role and is based in the broker's London
offices.
A month ago, Capital.com started a new initiative with the crowdsourced security platform Integrity, offering its clients a bug bounty program. Thanks to this move, the
broker wants to commit more to the safeguarding of user data and the integrity
of its platform.
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.
MetaTrader 5 Now Supports over 40 Payment Options for Global Traders
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
📣 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/
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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:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
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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.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
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
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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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
📣 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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Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 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/
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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
📣 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/
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
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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
📣 Stay updated with the latest in finance and trading!
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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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