de | cn | ru

Brokers News

FXPro UK trading volume increases threefold in 2013

FXPro UK, the FCA regulated branch of the well known broker, has reported hopeful financial results for 2013 with trading volume increasing threefold compared to prior year while net loss is down 35% YoY.
 
If you are surprised that FXPro UK is reporting loss that is because it is a start up company and should not be confused with the long operating Cyprus based FxPro Financial Services Limited. Hence, according to the official FXPro UK annual report submitted to the UK Companies House trading losses [are] sustained [in 2013] since the company is in start-up phase.
 
The company also is rather small with monthly average number of FxPro UK employees in 2013 of only 11. This simply means that the company is supported by personnel in the Cyprus branch keeping only essential positions in UK. Several senior employees must be located in UK in order to fulfill the regulatory requirements of the FCA.
 
By all means the company is progressing as evidenced from the major financial metrics in the report. The following figures are in comparison with the previous year (2012) financial results.
 

- Revenue £945 161 from £789 940 (20% increase);

- Net loss £465 965 from £713 754 (down 35%);

- Traded volume $49 billion from $16 billion (up 200%);

- Administrative expenses £1.422 million from £1.422 million

 
Notably, although the trading volume is up threefold the net revenue increase is only 20% meaning that FXPro UK is earning approx. $3 per standard lot traded (down from c.a $10 in 2012). In other words, the profit in 2013 is 0.3 pips per lot compared to 1 pips per lot in 2012. For comparison Gain Capital's profit per traded lot in 2013 is $10.95 or approx. 1.1 pips.
 
All in all, the reported figures are reassuring. Hence “the board of directors does not expect any significant changes or developments in the operations, financial position or performance of the company in the foreseeable future.”
 
TAGS: fxpro UK  fxpro  annual report 2013  operating metrics 

More news about FxPro

Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, IFSC MT4, MT5, Web $10 Review Website
Cyprus, Australia CySec, ASIC MT4, Web,
Mobile app
$100 Review Website
Australia, Cyprus ASIC MT4, MT5,
IRESSTrader
$100 Review Website
UK, Cyprus, Australia FCA, CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
Australia ASIC MT4, MT5 $100 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website

More Forex Brokers News

Vantage Prime will no longer service non-Australian clients

May 20 2019 13:36:39

  Vantage Prime, which is a part of the Vantage FX group, announced it will no longer service non-Australian clients, online media Finance Magnates reported today. The broker’s decision is taken due to regulatory concerns. Read more

Dukascopy warns it has no cooperation with shady broker GCG Asia

May 16 2019 13:29:47

  Swiss forex brokerage and bank Dukascopy has repeatedly warned investors that it is has no cooperation Guardian Capital Asia (GCG Asia) and that the latter is likely involved in a fraudulent scheme. Read more

$75 mln forex Ponzi scam revealed in the US

May 03 2019 16:46:08

The Commodity Futures Trading Commission (CFTC) in the US has filed charges against Florida based Oasis International Group, Oasis Management and Satellite Holdings along with their owners for running a 75 million USD Ponzi scheme, concealed as forex investment program. Read more

Australians lost $86 mln to investment scams in 2018

May 02 2019 17:04:18

Australians lost over 86 million USD to investment scams in 2018 alone – the biggest portion of the almost 490 million USD  in losses from over 378 000 scam reports, the latest report of the Australian Competition and Consumer Commission’s (ACCC) reveals. Read more

FXTM now offers a deposit bonus of up to $5 000

Apr 25 2019 11:10:24

  Global award-winning brokerage FXTM has launched their biggest deposit bonus promotion ever. The broker is now offering an extra 30% back from every amount their traders deposit over a period of 30 days, up to a total of $5,000. Read more

FXTM appoints Han Tan as a Market Analyst for Southeast Asia region

Apr 19 2019 13:28:36

  Global award-winning forex broker FXTM has just announced the appointment of Tan Chung Han (Han Tan) as a Market Analyst. Read more

FXTM gets a license from Mauritius’ FSC

Mar 28 2019 09:59:36

  Award-winning forex brokerage  FXTM (ForexTime) continues its ongoing global expansion. The broker announced it has acquired a license from the Financial Services Commission (FSC) of the Republic of Mauritius previous week. Read more

Fortrade is the first broker to get an ASIC license in nearly 2 years

Mar 20 2019 15:03:35

  Fortrade acquired a financial services license from the Australian Securities and Investments Commission (ASIC), which hasn’t been very welcoming of new retail forex broker applicants lately. Read more

FP Markets launches a suite of cutting-edge MT4 tools for traders

Mar 06 2019 14:31:42

  FP Markets, a market-leading Forex and CFD provider, launches MT4 Trader Toolbox, a suite of twelve online trading tools which will take their clients’ trading to the next level. Read more

Major broker IG launched its US website

Jan 31 2019 13:15:37

  Global brokerage IG launched its website intended for US retail clients (www.ig.com/us). Residents of the US (with the exception of those in Arizona or Ohio) can now register on the broker’s website in less than 5 minutes and start trading. Read more

de | cn | ru