Hantec Markets' 2021 Turnover from UK Operations Jumps 2.6%

Hantec Markets Limited, a UK-headquartered 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) broker, published its financials for 2021, reporting an annual turnover of about £5.4 million. According to the latest Companies House filing, the figure improved by 2.6 percent from the previous 12 months.

Previously, the broker filed its numbers for 18 consecutive months, from July 2019 to December 2020, when it generated a turnover of almost £7.9 million. The addition of six months in the previous filing makes that figure look strong, but the broker's performance has improved in the last 12 months.

However, there was a massive slump in the other income source of the broker, which came in at £36,667. Considering the administrative expenses, the UK broker closed the year with an operating loss of £2,472, while it turned a profit of £478,430 in the previous 18 month's filing.

After considering receivable and payable interest, the broker's pre-tax profits for 2021 came in at £6,881 compared to £379,439 in the previous 18 months. It ended the financial year with a net profit of £26,873.

Additionally, the net profits of £340,266 in the previous 18 months pushed its net assets to £5.98 million from £5.96 million.

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A Global Broker

Apart from the UK, Hantech Markets offers services with its license in Mauritius and Jordan. All of these local entities are controlled by Hantec Markets Holdings Limited. However, the reported figures only show the number of UK entities and their subsidiaries.

"The Group's business developed in line with the board's expectations and the results of the period and the financial position at the period end were considered satisfactory, given the increasing competition and regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term within the sector," the Companies House filing stated, adding: "The Group's client numbers, client deposits and trade volumes, all increased in the year." However, it did not reveal any of the client metrics.

Now, the brokerage group is looking for overseas expansion opportunities. It already entered the LATAM markets earlier this year with the opening of an office in Chile.