AFTX UK’s Profit Surges by Almost 300% to £838k in 2022

<p>AFTX UK,
the London-based subsidiary of global brokerage group, AFTX Group, saw a
massive jump in its profit during the recent fiscal year that ended in October
2022. The profit climbed by 273% to £838, 189, which is up from £224,558 in the
prior year. </p><p>AFTX UK
Sees Profit and Revenue Growth</p><p>At Global
Markets (UK) Limited, operator of the UK forex and contracts for difference
trading (CFD) provider, disclosed the figures in the latest financial statement
<a href="https://find-and-update.company-information.service.gov.uk/company/09827091/filing-history" target="_blank" rel="follow">filed</a> with the UK Companies House.
The report also shows that the subsidiary’s revenue increased by 7.6%
year-over-year from £2.9 million to £3.2 million.</p><p>In
addition, ATFX UK’s net asset, which measures its financial health, grew by
12.8% to £7.4 million, which is up from £6.6 million from the previous fiscal
year. The net asset includes cash balances of £4.3 million, the trading company
noted. </p><p>As a result
of these figures, ATFX UK said it has “a strong balance sheet and is
well placed to achieve its long-term strategy.” The company pledged to keep marketing its business directly in the European Economic Area and other
international territories where it is authorized.</p><p>“The key
targets will be the existing high net worth clients, fund managers, brokers and
banks who are looking to diversify their portfolio and are comfortable with the
risk profile and volatility that investing and trading in derivatives can
offer,” AFTX UK stated in the financial report.</p><p>ATFX Expands to Australia
and UAE</p><p>As a global
CFD broker, ATFX also holds multiple regulatory licenses outside the United
Kingdom. The brand is regulated in Cyprus, United Arab Emirates, Mauritius, St.
Vincent and the Grenadines and <a href="https://www.financemagnates.com/forex/brokers/atfx-partners-with-jordans-aswaq-invest-opens-new-amman-office/" target="_blank" rel="follow">Jordan</a>.
So far this year, ATFX
has added two
more jurisdictions to the list. </p><p>Earlier
this month, the broker <a href="https://www.financemagnates.com/thought-leadership/atfx-expands-global-reach-with-acquisition-of-rakuten-securities-australia/" target="_blank" rel="follow">acquired
Rakuten Securities’ Australian subsidiary</a> to further strengthen its position in the Australian online trading market. In
addition, ATFX in June
solidified its presence in the Middle East by obtaining an Arrangement and Advice <a href="https://www.financemagnates.com/forex/atfx-solidifies-middle-east-presence-with-new-uae-license/" target="_blank" rel="follow">license from the UAE</a>.</p><p>Meanwhile,
ATFX <a href="https://www.financemagnates.com/thought-leadership/atfx-announces-the-launch-of-its-nft/" target="_blank" rel="follow">marked its first entry</a> into the non-fungible tokens
(NFTs) industry in May. The brokerage launched its NFT Soft
Launch to all internal staff members and is planning a public launch for later in the year</p><p>On top of these, ATFX
Connect, the institutional arm of the ATFX Group, recently reported a
sharp increase in client satisfaction following the platform’s <a href="https://www.financemagnates.com/thought-leadership/atfx-connect-partners-with-lucera/" target="_blank" rel="follow">integration with
Lucera’s LumeFX</a> platform. LumeFX, an electronic trading for forex liquidity management,
enables brokers to manage and configure how clients and liquidity providers
interact. </p><p>

Volumes on eToro charts; Nomura's new eFX head; <a href="https://www.financemagnates.com/forex/news-nuggets-25-july-volumes-on-etoro-charts-nomuras-new-efx-head/" target="_blank" rel="follow">read today's news nuggets</a>.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.