Hirose UK Revenues Drop in 2016, Firm Looking to Focus on B2B

Hirose UK has published its latest results with the UK Companies House, showing a decline in revenues amid a highly competitive marketplace. The company's UK operation has been actively focused on an MT4 offering for trading foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and CFDs and a small binary options operation.

The global decline in the binary options industry has impacted Hirose UK’s revenues with the company reporting another year of negative results both in terms of revenues and profitability. While the broker registered a decline in operating expenses, the upcoming regulatory changes from the UK Financial Conduct Authority (FCA) are promoting the company to shift its strategic focus.

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The requirements which the UK watchdog is likely to impose on brokers and their clients prompted the company to highlight in its annual report that it is looking to expand its white label business and focus on B2B operations.

Losses of UK Subsidiary Since 2010 Amount to £4 million

Overall the operations of Hirose UK marked a decline in 2016. The company’s turnover almost halved, dropping to £0.5 million ($0.62 million) and about £1 million of Client Money Client Money Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Client money refers to the money or margin – which may be any currency in the form of cash, check, draft, or electronic transfer – that a firm receives or holds for a client. Money held by a firm in the form of a stakeholder, which is are not payable on demand or immediately due, also refers to client money. The definition of client money does not apply to money held by businesses that operate in its own name on behalf of a client. Although the client does have to be in agreement before this arr Read this Term held in corporate accounts as of the end of March 2017. The number is substantially lower when compared to the same month of last year, when customers held £1.6 million with the brokerage.

Losses before taxes amounted to £611,078, which is higher by 28 percent when compared to a year ago. Nevertheless the company managed to cut administrative expenses to £1.1 million from £1.4 million during the previous year. Total losses of the firm since incorporation now amount to about £4 million.

The binary options business of Hirose UK shrank in line with the rest of the brokers in this area with £59,961 held in client accounts, compared to £93,878 at the end of fiscal 2016. The company’s proprietary offering for binary options traders hasn’t taken off, most likely due to the broad decline of the industry.

The broker’s operational personnel count increased to 5 employees during the year, most likely signaling the shift into a new direction for Hirose UK. Earlier this year, the parent company of the UK-headquartered firm Hirose Tusyo Inc got listed in Tokyo. The current value of the company is close to $100 million.

Finance Magnates has reached out to the company for some commentary on the upcoming B2B transition, but at the time of publication has not received an official response.