Administrative expenses decreased from £1.71 million to £1.70 million in FY 2024.
Operating profit fell to £76K, down from £197K the previous year.
The Retail FX and CFD broker Vantage Global Prime LLP has
released its financial results for the year ending June 30, 2024. The results
show a decline in profits compared to the previous year.
Vantage UK Reports Profit Decline
Turnover for Vantage UK decreased from £2.02 million in 2023
to £1.91 million in 2024. The cost of sales increased slightly, rising from
£116K in 2023 to £133K in 2024. Consequently, gross profit fell to £1.77
million, down from £1.91 million the previous year.
In terms of administrative expenses, Vantage UK managed to
reduce costs from £1.71 million in 2023 to £1.7 million in 2024. Despite these
cost-cutting measures, operating profit significantly dropped to £76K in 2024,
a decline from £197K in 2023.
Additionally, there were no interest expenses or income
reported for 2024, contrasting with minor entries in 2023. Profit before
members' remuneration and discretionary division also decreased to £76K in
2024, down from £197K in the previous year.
Vantage's Multi-Currency Support and TradingView Integration
This development aims to allow traders from different regions to diversify
their portfolios and engage in copy trading using their preferred currency.
The Vantage app supports 55 global deposit methods,
including credit cards and bank transfers, to accommodate users' funding
preferences.
Additionally, the multi-account support enables users to copy
trades across various account types, allowing, for example, a trader with a
Standard STP account to copy trades from a provider using a Swap-free RAW ECN
account, even if the accounts trade in different currencies.
Clients can now open TradingView accounts and link them to their
user profiles, allowing for the trading of CFD instruments such as currencies,
commodities, and stock market instruments directly from TradingView charts.
The Retail FX and CFD broker Vantage Global Prime LLP has
released its financial results for the year ending June 30, 2024. The results
show a decline in profits compared to the previous year.
Vantage UK Reports Profit Decline
Turnover for Vantage UK decreased from £2.02 million in 2023
to £1.91 million in 2024. The cost of sales increased slightly, rising from
£116K in 2023 to £133K in 2024. Consequently, gross profit fell to £1.77
million, down from £1.91 million the previous year.
In terms of administrative expenses, Vantage UK managed to
reduce costs from £1.71 million in 2023 to £1.7 million in 2024. Despite these
cost-cutting measures, operating profit significantly dropped to £76K in 2024,
a decline from £197K in 2023.
Additionally, there were no interest expenses or income
reported for 2024, contrasting with minor entries in 2023. Profit before
members' remuneration and discretionary division also decreased to £76K in
2024, down from £197K in the previous year.
Vantage's Multi-Currency Support and TradingView Integration
This development aims to allow traders from different regions to diversify
their portfolios and engage in copy trading using their preferred currency.
The Vantage app supports 55 global deposit methods,
including credit cards and bank transfers, to accommodate users' funding
preferences.
Additionally, the multi-account support enables users to copy
trades across various account types, allowing, for example, a trader with a
Standard STP account to copy trades from a provider using a Swap-free RAW ECN
account, even if the accounts trade in different currencies.
Clients can now open TradingView accounts and link them to their
user profiles, allowing for the trading of CFD instruments such as currencies,
commodities, and stock market instruments directly from TradingView charts.
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
👍 Facebook: https://www.facebook.com/financemagnates/
📸 Instagram: https://www.instagram.com/financemagnates_official
🐦 X (Twitter): https://twitter.com/financemagnates/
📡 RSS Feed: https://www.financemagnates.com/feed/
▶️ Telegram: https://t.me/financemagnatesnews
Don't miss out on our latest videos, interviews, and event coverage.
🔔 Subscribe to our YouTube channel for more!🔔
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
🌟 Explore cutting-edge solutions and connect with fintech leaders at FMLS:24!
🌟 Explore cutting-edge solutions and connect with fintech leaders at FMLS:24!
🤝 Meet industry leaders at the premier event for brokers – FMLS:24. Secure your spot today!
🤝 Meet industry leaders at the premier event for brokers – FMLS:24. Secure your spot today!