ATFX UK reports solid financial results for FY 2022
AT Global Markets (UK), the FCA-regulated arm of financial services group ATFX, has released its financial results for the full year ending October 31, 2022, which featured strong performance across a number of key metrics, ranging from profit to revenues.
Per a regulatory filing with the UK Companies House, ATFX UK saw its operating revenue grow to £3.15 million in FY 2022, up from £2.93 million a year ago, or 7.5 percent higher year-over-year.
Despite revealing an increase in turnover for the period, the broker saw its operating expenses drop by more than a third, coming in at £1.47 million compared to £2.23 million in 2021.
In terms of its bottom-line metrics, the firm reported a net profit of £838,189 for 2022, nearly quadrupled when compared to £224,558 in the previous year.
Other business highlights show that the company had net assets of £7.39 million, up from the previous year’s £6.5 million. This figure included £4.3 million in cash balances. As a result, ATFX UK said it boasts a robust balance sheet, positioning it to pursue its long-term strategic goals.
ATFX UK also said its trading volumes increased “significantly” in the early part of 2023 and expanded activities during the year, supported by the growth of its institutional brand, ATFX Connect.
ATFX has recently entered into a new phase of growth, which saw the broker expand its geographical footprint across Asia, as well as enhance its product offering, focusing on localization.
Earlier this month, ATFX acquired Rakuten Securities Australia (RSA), a subsidiary of Rakuten Securities. The takeover provides the broker with several advantages, including access to a well-established customer base and a team of skilled industry professionals.
Rakuten’s clients will benefit from the transition as they gain access to ATFX’s broader product offering and robust trading infrastructure. ATFX’s comprehensive range of trading services, coupled with its client-centric approach, will provide a seamless trading experience for both new and existing clients.
