TIOMarkets UK Revenue Jumps 904% in FY2020

TIOMarkets UK Limited, the British subsidiary of the namesake broker group, published its annual financials for the fiscal year 2020, ending on December 31. It reported an increase of more than 904 percent in revenue from UK operations in just a year.

In absolute terms, the revenue of the UK company came in at $78,461, compared to $7,812 generated in the previous year. “The company’s main revenue is dependent on the trading volume of its clients and spread mark-up,” TIOMarkets UK stated in the Companies House filing.

TIOMarkets is a relatively new player in the 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 CFDs brokerage space, but has already started to make a splash. It is targeting retail, professional and institutional traders with its investment product line up.

Apart from the astronomical rise in revenue, the UK broker broke even in the year with only $2 in pre-tax losses. The broker achieved this by putting a check on the sales cost and administrative expenses despite the revenue jump.

Another Strong Year

“The Directors believe that the firm is in a strong financial position to move forward in 2021 and expect its client numbers to increase significantly owing to a new marketing campaign, slick website which offers further products and services meeting the needs of its existing and new clients,” the filing added.

“This will naturally lead to an increase in revenue which will strengthen the firm’s financial position and will assist TIOMarkets UK Limited to grow organically.”

Furthermore, the impact of rising retail trading demand across the industry, which was caused by the Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term after the economic impact of the ongoing pandemic, cannot be ignored in TIOMarkets UK’s steep revenue jump.

Apart from the core business front, TIOMarkets is taking a lead in other corporate areas, especially in employee satisfaction. Earlier this month, the Cyprus office of the broker group rolled out a 4-day work week for all its employees.