According to a UK Companies House filling, ayondo Markets Limited, the FCA-regulated subsidiary of ayondo, posted increased revenues in 2016. The company’s turnover almost doubled year-on-year, from $9.9 million (£7.4 million) to $19.1 million (£14.2 million)
The UK subsidiary of ayondo also reported a net loss of $1,450,000 (£1,073,000) for 2016. The figure is nearly 25% lower than its 2015 losses of $1,950,000 (£1,443,000).
According to the report, all major indicators saw improvement, with the number of trades, number of active clients and volumes traded all “achieving new highs within the accounting period.”
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“2016 was not only year of revenue growth but a year of laying the operational foundations for providing a harmonized product that is capable of acquiring a significant geographical footprint across both execution only and social trading within Europe, the Middle East and Asia,” the official filing states.
During 2016, the social trading brokerage launched a revamp of its website to offer improved usability and a new design. ayondo offers a broad spectrum of services to both retail and institutional sectors.
Recently, the Frankfurt-based company obtained one of the most lucrative licenses in Europe – one from Germany’s financial regulator, BaFin.
The company’s CEO, Robert Lempka, commented to Finance Magnates that it took over a year to acquire the BaFin license: “We put customer experience and protection at the centre of our business activities, and the BaFin licence is a benefit to both our retail and B2B clients.”
“Furthermore, transparency and a clear regulatory environment is a necessity as we focus on our international expansion. The licence represents a milestone within the European FinTech market and paves the way for future market developments.” Mr Lempka explained.