4T Markets reports higher revenue for FY 2023, but losses inflate
4T Markets Limited, formerly known as Formax Prime Capital (UK) Limited, has closed its fiscal year 2023, ending March 31, with mixed financial results.
The London-based company reported a near doubling of its revenue to £235,821, up from £119,044 in the previous year. However, this increase in revenue was accompanied by a higher net loss, which expanded to £300,157 from the previous year’s £271,446.
The company’s latest filing with Companies House reveals that operational costs rose to £132,865 from £62,572, while administrative inflated to £403,000.
A notable development during the fiscal year was the acquisition of a 9.95% stake in 4T Markets by 4T Global Ltd on March 31, 2023. This acquisition has set the stage for a potential change in control of the company, subject to regulatory approval from the Financial Conduct Authority (FCA). If approved, this change will fully integrate 4T Market into the 4T Global network, which spans various financial and technology sectors across multiple jurisdictions.
In preparation for this integration, 4T Market is planning to apply for a license extension to include Contracts for Difference (CFDs), a move that would align its offerings with those of its industry peers.
To support these planned expansions, 4T Market’s senior management is reportedly focusing on strengthening its operations and customer support teams. Additionally, to improve its corporate governance, the company intends to appoint new members to its Board of Directors, including a Non-Executive Director.
Financially, as of the end of the fiscal year on March 31, 2023, 4T Market reported net current assets of £216,714 and net assets of £217,541. Despite the loss incurred over the year, the firm said it is relying on the continued support of its parent company to meet its financial obligations and sustain operations.
4T plans to release further technological enhancements in the next few months, focusing on automation and affordability as it seeks to make trading even more accessible.
Established in 2019, 4T is a market-leading provider in CFD trading, authorised and regulated in various jurisdictions throughout the world. The 4T aggregation engine is hosted in specialized data centers across New York and Tokyo alongside the majority of top tier banks and liquidity providers to minimize the latency and optimize efficiency.