It’s been a good couple of months for Tickmill and the retail broker shows no signs of slowing down. This Thursday, Finance Magnates gained early access to the broker’s financial results for the first half of 2018. The broker saw a huge increase in net profits and trading volumes in the first half of this year.
According to the broker’s report, consolidated net profit for the first half of the year was $14.97 million. That means that in the first six months of this year, Tickmill has already surpassed the $14.8 million it made in profit for the entirety of last year.
This meteoric growth was the result of a similarly gigantic increase in trading volumes. In the first half of last year, the firm reported a total trading volume of $332 billion. That figure grew, in the first of this year, to $624 billion - an 88 percent year-on-year increase.
Tickmill executing wins
The $624 billion-worth of trading was executed across 35.7 million trades, meaning that there were an average of 5.95 million trades executed by Tickmill per month in the first half of this year. To put that in perspective, last year the firm reported a record 3.6 million trade executions in March. In May of this year, the firm almost doubled that result, with a record 6.8 million trades executed.
Thursday’s results follow on the heels of a very impressive 2017 financial report for Tickmill. As reported by Finance Magnates, the broker almost doubled its revenue and more than doubled its profits last year. Considering that it has already increased on its profits from last year, It looks as though the broker will perform even more impressively this year.
Illimar Mattus, Chief Financial Officer of Tickmill UK, commented on the results: “We are pleased to see Tickmill going from strength to strength in our financial performance. Through nimble decisions and strong business leadership, we managed to thrive in an increasingly demanding and complex regulatory environment.”
