In 2023,
TRADE.com in the UK achieved higher revenue, profit, and increased the value of
its assets compared to the previous year. Trade Capital UK Ltd (TCUK), the
operator of the FX/CFD broker, earned almost 60% more than in 2022.
TRADE.com UK Increases
Revenue and Net Profit
According
to the 2023 report published in the UK Companies House, the FCA-licensed
company TCUK achieved revenue of £892,377 in 2023, compared to £759,240,
representing an 18% increase.
While
maintaining nearly unchanged direct expenses and reducing administration
expenses, this helped more than double the operating profit, which jumped from
£154,569 to £306,411. This also translated into a nearly 60% higher net profit,
growing from £140,694 to £218,325 in 2023.
The company
also reported information about its total assets, which increased to almost
£700,000 compared to the previous year.
It’s worth
noting that these results only pertain to the UK part of the TRADE.com brand.
In other parts of the world, it is managed by separate entities, including
Trade Capital Markets Ltd (TCM), licensed in Cyprus and South Africa.
Prop Trading and Italian
License
This year,
the company also expanded its scope of operations by acquiring a local license
in the Italian market. The Italian operation is conducted under the locally
established entity Trade Capital Italia SIM, which obtained authorization as an
investment services firm from Consob. The platform offers services to both
retail and professional clients.
“We
see Italy as a very strategic market,” Roei Gavish, the Group CEO of
TRADE.com, told Finance Magnates. “We believe a local setup with a strong
banking relationship will create a big opportunity.”
In June,
the company announced that it was adding prop trading to its offering under the
TRADE.com challenges brand. According to the Trade.com Challenge website, the
broker offers the newly launched service under Tplus Technologies Limited, a
corporation registered in Cyprus. This entity is different from TCM, the Cyprus-licensed entity that operates the TRADE.com brand
in the European Union.
“Our
strategy is offering our own secure, reputable and fair environment – like we
always offer,” Gavish commented. “The fact that we’re coming from heavily
regulated space will ensure clients are treated well.”
At last year’s end, Finance Magnates reported that TRADE.com underwent a management buyout as part of a restructuring plan. The ongoing restructuring
includes the launch of new product lines and accelerating Trade.com’s
development in new regions, with a particular focus on Italy, thanks to the
recently acquired CONSOB license, as well as in Latin America (LATAM) and
emerging markets.
In 2023,
TRADE.com in the UK achieved higher revenue, profit, and increased the value of
its assets compared to the previous year. Trade Capital UK Ltd (TCUK), the
operator of the FX/CFD broker, earned almost 60% more than in 2022.
TRADE.com UK Increases
Revenue and Net Profit
According
to the 2023 report published in the UK Companies House, the FCA-licensed
company TCUK achieved revenue of £892,377 in 2023, compared to £759,240,
representing an 18% increase.
While
maintaining nearly unchanged direct expenses and reducing administration
expenses, this helped more than double the operating profit, which jumped from
£154,569 to £306,411. This also translated into a nearly 60% higher net profit,
growing from £140,694 to £218,325 in 2023.
The company
also reported information about its total assets, which increased to almost
£700,000 compared to the previous year.
It’s worth
noting that these results only pertain to the UK part of the TRADE.com brand.
In other parts of the world, it is managed by separate entities, including
Trade Capital Markets Ltd (TCM), licensed in Cyprus and South Africa.
Prop Trading and Italian
License
This year,
the company also expanded its scope of operations by acquiring a local license
in the Italian market. The Italian operation is conducted under the locally
established entity Trade Capital Italia SIM, which obtained authorization as an
investment services firm from Consob. The platform offers services to both
retail and professional clients.
“We
see Italy as a very strategic market,” Roei Gavish, the Group CEO of
TRADE.com, told Finance Magnates. “We believe a local setup with a strong
banking relationship will create a big opportunity.”
In June,
the company announced that it was adding prop trading to its offering under the
TRADE.com challenges brand. According to the Trade.com Challenge website, the
broker offers the newly launched service under Tplus Technologies Limited, a
corporation registered in Cyprus. This entity is different from TCM, the Cyprus-licensed entity that operates the TRADE.com brand
in the European Union.
“Our
strategy is offering our own secure, reputable and fair environment – like we
always offer,” Gavish commented. “The fact that we’re coming from heavily
regulated space will ensure clients are treated well.”
At last year’s end, Finance Magnates reported that TRADE.com underwent a management buyout as part of a restructuring plan. The ongoing restructuring
includes the launch of new product lines and accelerating Trade.com’s
development in new regions, with a particular focus on Italy, thanks to the
recently acquired CONSOB license, as well as in Latin America (LATAM) and
emerging markets.
This post is originally published on FINANCEMAGNATES.
