The company plans to introduce the dealing of physical shares this year.
FXPro UK ended two consecutive years of losses, reversing last year's £614k loss.
London-based retail broker FxPro UK has released its
financial report for the year ended December 2023, as published by Companies House UK. The report shows that the company bounced back to profit, boosted by a double-digit revenue growth.
FxPro moved from a loss of £614,558 in the preceding year to
a profit of £153,103. The retail broker also managed to turn around an
operating loss of £611,497 to a profit of £93,283. Although the company’s distribution
costs increased from £212,780 to £331,517, FxPro managed to reduce
administrative expenses from £1,511,382 to £1,182,292.
Adequate Capital Resources
“Trading revenue arises from the provision of online
financial services in the ordinary course of the company’s activities—clients’
trading in CFDs and financial spread betting—whereby the company acts as a
counterparty to trades undertaken by its clients,” FxPro explained.
“The company held adequate capital resources and did not
breach any regulatory capital requirements during the year. No change in the
authorized or issued share capital of the company took place during the year
ended December 31.” The company plans to offer its clients the dealing of physical shares this year in addition to the CFD offerings.
FxPro UK increased its total assets, less current liabilities, during this period, moving from £3,408,342 to £3,561,445. The company also grew its cash reserves from £2.6 million to £3.6
million, expanding the total assets excluding liabilities by 4%.
FxPro Expands Services
Last year, FxPro launched a new office in Dubai to
enhance its services for regional retail and institutional clients. The firm
opened a representative office in Dubai the previous year, shortly after
unveiling its services in the Bahamas.
FxPro previously opened offices in London, Cyprus, and Monaco. The retail broker has also secured regulatory licenses from the
Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and
the Financial Conduct Authority of South Africa.
The company is also expanding its services to the
fast-growing crypto space. Last year, it added crypto to its cTrader accounts.
This offering enables traders to log in to their cTrader accounts and open new
accounts under their profile. Some of the tokens currently supported on the platform are Bitcoin,
Ethereum, and Ripple.
London-based retail broker FxPro UK has released its
financial report for the year ended December 2023, as published by Companies House UK. The report shows that the company bounced back to profit, boosted by a double-digit revenue growth.
FxPro moved from a loss of £614,558 in the preceding year to
a profit of £153,103. The retail broker also managed to turn around an
operating loss of £611,497 to a profit of £93,283. Although the company’s distribution
costs increased from £212,780 to £331,517, FxPro managed to reduce
administrative expenses from £1,511,382 to £1,182,292.
Adequate Capital Resources
“Trading revenue arises from the provision of online
financial services in the ordinary course of the company’s activities—clients’
trading in CFDs and financial spread betting—whereby the company acts as a
counterparty to trades undertaken by its clients,” FxPro explained.
“The company held adequate capital resources and did not
breach any regulatory capital requirements during the year. No change in the
authorized or issued share capital of the company took place during the year
ended December 31.” The company plans to offer its clients the dealing of physical shares this year in addition to the CFD offerings.
FxPro UK increased its total assets, less current liabilities, during this period, moving from £3,408,342 to £3,561,445. The company also grew its cash reserves from £2.6 million to £3.6
million, expanding the total assets excluding liabilities by 4%.
FxPro Expands Services
Last year, FxPro launched a new office in Dubai to
enhance its services for regional retail and institutional clients. The firm
opened a representative office in Dubai the previous year, shortly after
unveiling its services in the Bahamas.
FxPro previously opened offices in London, Cyprus, and Monaco. The retail broker has also secured regulatory licenses from the
Financial Conduct Authority, the Cyprus Securities and Exchange Commission, and
the Financial Conduct Authority of South Africa.
The company is also expanding its services to the
fast-growing crypto space. Last year, it added crypto to its cTrader accounts.
This offering enables traders to log in to their cTrader accounts and open new
accounts under their profile. Some of the tokens currently supported on the platform are Bitcoin,
Ethereum, and Ripple.
Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
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Relive the best moments from the Finance Magnates Pacific Summit 2024 with our highlights video! ✨
From action-packed moments, insightful speaker sessions, the exclusive Opening Blitz, and immersive workshops, this video captures the energy and excitement of FMPS:24. Whether you attended or missed out, here’s your chance to experience the top moments that made FMPS:24 unforgettable.
🎬 Watch, share, and join the conversation!
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Stay tuned for more events. See you next time!
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Transformation in the APAC Trading Landscape and Beyond | FMPS:24
Transformation in the APAC Trading Landscape and Beyond | FMPS:24
As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
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As the financial services industry experiences rapid and transformative changes, leading fintech experts and policymakers come together to discuss the present and future of retail trading and the evolving regulatory landscape. Join this insightful session for a forward-looking perspective on the trends, innovations, and trader needs that are shaping the future of offerings on a global scale.
Speakers:
Eric Blewitt, CEO, Investment Trends
Rhys Bollen, Senior Executive Leader, Digital Assets, Australian Securities and Investments Commission (ASIC)
Michael Bogoevski, Head of Institutional Sales, CMC Connect
Karin Setchell, General Manager, Product & Investing Solutions, CommSec
#fmps #fmps24 #fmevents #RetailTrading #FintechInnovation #FinancialRegulation #DigitalAssets #GlobalFinance
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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