The revenue of the British unit also declined by 14.2 percent.
However, client acquisition increased by 246 percent, and deposits by 68 percent.
The British entity that operates ThinkMarkets, a forex and contracts for differences (CFDs) broker, ended 2023 with an annual turnover of over £2.4 million, a 14.2 percent decline from the previous year’s £2.8 million. The profits of the unit also dropped substantially, as the net figure sank by 71 percent to £82,925.
Significant Decline in Profits
According to the latest Companies House filing by TF Global Markets (UK) Limited, which is regulated by the UK’s Financial Conduct Authority, the company reported that its pre-tax profits halved to £151,668 from 2022’s £300,025.
“The company performed strongly across all key measures in 2023 despite lower business volumes due to industry conditions, general economic uncertainty, and global financial markets, supported by a continued focus on attracting and retaining high-value customers,” the filing added.
Headquartered in Australia, ThinkMarkets has a strong international presence. Apart from its FCA authorization, the broker expanded its Asia Pacific presence last year by gaining a New Zealand license, which followed its 2022 entry into Japan through the acquisition of a local FX firm.
The UK unit also established a locally regulated UAE branch and commenced its operations in the second quarter of 2024. “It is anticipated that this new segment of the company will increase both revenue and profitability, along with raising brand awareness by being present in the Middle East region under the DFSA licence,” the filing noted.
Client Metrics Improved
The latest filing further revealed that client acquisition under the UK unit increased by 246 percent during 2023, compared to a 42 percent decrease in 2022. According to the company, the rise in client acquisition was due to “continued investment in the group’s multifaceted marketing approach.”
Additionally, total client deposits grew by 68 percent last year compared to a decline of 22 percent in 2022.
“The company continues to invest in strategic markets to attract high-net-worth clients in tier-one markets, offering a broad range of products on its intuitive proprietary trading platforms,” the filing added.
Meanwhile, ThinkMarkets' efforts to go public were stalled by the cancellation of its deal with a blank-check company last year. The broker also failed to list its shares in Australia in 2020 through an initial public offering.
The British entity that operates ThinkMarkets, a forex and contracts for differences (CFDs) broker, ended 2023 with an annual turnover of over £2.4 million, a 14.2 percent decline from the previous year’s £2.8 million. The profits of the unit also dropped substantially, as the net figure sank by 71 percent to £82,925.
Significant Decline in Profits
According to the latest Companies House filing by TF Global Markets (UK) Limited, which is regulated by the UK’s Financial Conduct Authority, the company reported that its pre-tax profits halved to £151,668 from 2022’s £300,025.
“The company performed strongly across all key measures in 2023 despite lower business volumes due to industry conditions, general economic uncertainty, and global financial markets, supported by a continued focus on attracting and retaining high-value customers,” the filing added.
Headquartered in Australia, ThinkMarkets has a strong international presence. Apart from its FCA authorization, the broker expanded its Asia Pacific presence last year by gaining a New Zealand license, which followed its 2022 entry into Japan through the acquisition of a local FX firm.
The UK unit also established a locally regulated UAE branch and commenced its operations in the second quarter of 2024. “It is anticipated that this new segment of the company will increase both revenue and profitability, along with raising brand awareness by being present in the Middle East region under the DFSA licence,” the filing noted.
Client Metrics Improved
The latest filing further revealed that client acquisition under the UK unit increased by 246 percent during 2023, compared to a 42 percent decrease in 2022. According to the company, the rise in client acquisition was due to “continued investment in the group’s multifaceted marketing approach.”
Additionally, total client deposits grew by 68 percent last year compared to a decline of 22 percent in 2022.
“The company continues to invest in strategic markets to attract high-net-worth clients in tier-one markets, offering a broad range of products on its intuitive proprietary trading platforms,” the filing added.
Meanwhile, ThinkMarkets' efforts to go public were stalled by the cancellation of its deal with a blank-check company last year. The broker also failed to list its shares in Australia in 2020 through an initial public offering.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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