IronFX UK Reports Drop in 2019 Revenue, Closes Year Profitable

Notesco UK Limited, which operates IronFX UK, has published its financial results for the year ended on the 31st of December 2019, revealing a significant drop in revenue during the period.

The principal activity of Notesco UK Limited across 2019 was dealing in investments as principal (matched-principal broker). The company is authorized and regulated by the Financial Conduct Authority (FCA).

According to a document published via UK’s Companies House, Notesco UK Limited achieved a revenue of $434,686 across the 12 month period. When measuring this against the previous year, which had a revenue of $942,144, representing a drop of 53.9 percent.

The FCA regulated firm achieved a profit before tax of $30,186. This is considerably stronger than the loss before tax of $43,011 recorded in the prior year. Overall, Notesco UK achieved a profit for the year, coming in at $25,169 as compared to the loss of $36,601 of the previous year.

ESMA ESMA European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t European Securities and Markets Authority (ESMA) is an independent Authority of the European Union that is responsible for the safety, security, and stability of the European Unions’ financial system and is charged with protecting the public. The European supervisory authority for the securities sector, ESMA was established on 1 January 2011. The European Securities and Markets Authority is an independent EU authority based in Paris. It aims to contribute to the effectiveness and stability of t Read this Term measures hit brokers hard

At the time of publishing, it is not completely clear why the operator of IronFX UK has reported a significant drop in revenue, and yet still managed to achieve a profit for the year. Finance Magnates has reached out for clarification, but we have not yet received a response.

According to the document filed through Companies House, the company does mention that it maintained its low-cost base strategy during the year. Furthermore, the company saw its client base within the United Kingdom grow.

In the region, 2019 was a particularly difficult year for many brokers. As we have reported extensively, the product intervention measures imposed by the European Securities and Markets Authority (ESMA), which included Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term caps, hit a lot of brokers operating within Europe and the UK hard, with many seeing significant drops in revenue.

Whether this is the reason for the drop in revenue reported by Notesco UK, however, is purely speculation. Finance Magnates will provide more information when it comes to light.