Valutrades’ 2020 Operating Profit Jumps 1,052%

Valutrades Limited, a United Kingdom-based 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 provider, has ended 2020 with excellent revenue and profits, according to the company’s latest filing with Companies House.

The annual revenue of the broker for the financial year ending on December 31, 2020, came in at more than £3.99 million, which is 21 percent higher than the previous year’s £3.29 million. The gross profit of the company surged 32 percent in the year, reaching £3.17 million.

But, the most highlighted metrics remained the operating profits of the broker, which jumped 1,052 percent in the period, from a loss of £90,867 in 2019 to a gain of £865,155 last year. Additionally, the broker reported that the retail clients’ fund held by it also increased in 2020 by 45 percent to £2.57 million.

Similar to other European brokers, Valutrades’ business was impacted by the ESMA restrictions, but the broker has shown a healthy gain in revenue since 2019.

An Optimistic Outlook

Valutraders’ latest numbers followed the industry-wide trend when the brokers witnessed an influx of retail traders towards the markets. The broker is now optimistic about its performance for 2021.

“2021 looks set to be another good year for Valutrades with the same market trends - Covid-19, US political leadership change and Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term reaction, causing increased volatility in the financial markets. This has a net positive effect on client volumes and commission incomes,” the broker noted in the filing.

Elaborating on its long-term strategy, the broker stated that it will continue to invest in technology, staff and business relationships that will expectedly increase its profitability. Furthermore, it received shareholders’ approvals to reinvest the profits in business growth.