Fortrade Limited Sees Sluggish 2017 Performance, Down from 2016 Highs

Fortrade Limited, a foreign exchange (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 difference (CFD) broker, has published its group annual report and financial statements for the year ended December 31, 2017.

The FCA-regulated firm made headlines last year when it reported incredibly strong results - with its operating revenues coming in at £15.9 million ($20.3 million) for the 12-month period through December 2016, higher by more than 190 percent year-over-year from the £5.4 million reported back in 2015.

However, it seems progress has stalled for the broker this year. With the firm reporting a turnover of £16.1 million, representing an increase of 1.8 percent. While this is up from the previous year, it is less much impressive than the growth experienced in 2016.

Fortrade highlights that its two key metrics are turnover and operating profit. In 2016, operating profit (minus loss) was £1.1 million. For the 12 months ended December 31, 2017, the broker did record a profit. However, it was considerably less, with 2017 experiencing an operating profit of £230,994.

Fortrade Expected a Strong 2017

Back in 2016, Fortrade provided an upbeat outlook for 2017. Specifically, the broker expected it to see a significant increase in both client base and trading volumes since the major change in its marketing strategy of late 2015, as well as its current efforts to expand trading activity to a much broader area.

For 2017, the total comprehensive income (minus loss) for the period was £175,070. Again, this is drastically less than the value recorded in 2016, which was 84 percent more at £1.1 million.

Fortrade was established in 2013. It is a provider of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term solutions for both retail and institutional traders. The company is based in the United Kingdom and offers trading instruments which cover more than 50 currencies, almost 250 stock CFDs, commodities and more.