ATC Brokers' UK-focused operations have experienced a robust 12 months ending April 30. In fiscal year 2024 (FY24), the company generated significantly higher turnover and gross profit compared to the previous year, allowing it to regain profitability.

ATC Brokers UK Earns £800K in FY24

According to the latest report published in Companies House by ATC Brokers Limited, the UK operator of the FX/CFD brand ATC Brokers, turnover in FY24 reached £5.6 million, nearly tripling from £2.1 million reported the previous year.

Despite a fivefold increase in sales costs to £2.6 million, the company still managed to achieve a gross profit of over £3 million, representing a 100% jump compared to fiscal year 2023 (FY23). Ultimately, operating profit stood at just under £1 million, with net profit at £799,000, compared to a loss of £47,600 reported the previous year.

The company's net assets also increased significantly, valued at £2.4 million at the end of the fiscal year, up from £1.6 million in FY23.

ATC Brokers is not the only UK broker that has recently published financial results for its FCA-licensed company. Finance Magnates also reported on the annual results of Trade Capital UK Ltd, operator of TRADE.com, whose net profit in 2023 jumped by almost 60% to nearly £220,000.

ATC is licensed in the UK and has held another authorization in the Cayman Islands for almost six years. The company is significant in providing FX/CFD services outside the UK, especially since Brexit .

Earlier this year, the firm became involved in a legal case concerning a suspected $78 million Ponzi scheme called Oasis. Burton Wiand, acting as the receiver for Oasis International Group, sued the forex and CFD broker ATC Brokers Ltd and the company's co-founder, David Manoukian. Wiand alleged their involvement in fraudulent transfers. The district court initially dismissed Wiand's claims, citing a lack of standing.

Mixed Results for Other UK Brokers

While ATC Brokers and the aforementioned TRADE.com can consider 2023 successful, not all firms were equally fortunate. Last week, Finance Magnates reported that Trade Nation, a spread betting and CFD provider, saw lower turnover in its UK operations, resulting in a financial loss of £2.2 million.

The company's main headquarters in London, operating as Trade Nation Financial UK Limited under FCA license, recently published its 2023 results. These showed a decline from 2022, with a 5% decrease in turnover and over 300% drop in operating profit.

According to a separate report, the FCA-regulated ParFX also experienced a 14% revenue drop in 2023 due to decreased client numbers, with net profit shrinking by 84% to $934,000. However, the wholesale electronic trading platform for spot Forex products, a subsidiary of the Tradition UK Group, plans to expand its global distribution network and broaden its “FX electronic trading community.”