Equiti Capital UK reports profit growth of 113% in FY2021

Equiti Capital UK Limited, the FCA-regulated subsidiary of Equiti Group, has released its financial results for the financial year ending December 2021, pointing to an increase in profit by 113%.

Reporting a net profit of $3.7 million, the London-based brokerage firm noted the increase in profitability was driven by a 5% growth in trading revenues underpinned by a small reduction in costs. As to record volumes, these were generated by Equiti Capital’s FX Agency desk which grew 84% year-on-year.

The company entered 2022 in a strong financial position with $36 million in capital.

“Potential for strong growth in revenues over the next financial year”

Paul Webb, Chief Operating Officer at Equiti Capital and Equiti Group, commented: “With our ambitious business plans and investment in strategic elements of the business, Equiti Capital continues to see the potential for strong growth in revenues over the next financial year.”

Equiti Capital UK has made significant investments  in order to become a centre of excellence to service the wider global group, particularly in terms of product development and marketing.

Building out the marketing team in London to bolster Equiti Group’s global marketing support has indeed made an impact already and will be a key part of the long-term growth strategy.

The product team was also significantly enhanced to be able to launch 80 leveraged and fully funded crypto CFDs to professional categorised clients. The dual offering was released in June and allows users to trade alt-coin & bitcoin CFDs on margins from 10%, with average spreads of $5.59 on BTCUSD and $0.36 on ETHUSD. All spreads are less than 1% of the market price and the broker charges 0% commission on fund transfers.

Equiti’s Fully Paid Cryptocurrency CFD offering includes no overnight fees, unlike the margined products. Besides Fully Paid Cryptocurrencies and Margined Cryptocurrencies CFDs. The broker believes it to be one of the largest dual offerings in the market.

The FCA-authorized broker plans to maintain its focus on technology for its Trading Operations and further enhance Compliance and Risk functions that have been embedded within the firm’s structure and culture.

Regulated entities within Equiti Group include Equiti Capital UK Ltd regulated by the UK’s Financial Conduct Authority, Equiti Securities Currencies Brokers LLC regulated and licensed by the UAE’s Securities and Commodities Authority, Equiti Group Limited Jordan, regulated and licensed by the Jordan Securities Commission, EGM Futures DMCC, regulated and licensed by UAE’s Securities and Commodities Authority, EGM Securities Ltd regulated and licensed by Kenya’s Capital Markets Authority, Equiti Brokerage (Seychelles) Limited regulated and licensed by the Seychelles Financial Services Authority and Equiti AM CJSC, regulated and licensed by the Central Bank of Armenia.