FxPro UK has just filed its annual accounts with the UK Companies House. The company’s metrics have moved sharply higher due to increased volatility and higher trading volumes. Throughout 2015, the company posted a substantial revenue increase with the total number amounting to £1.97 million ($2.56 million). The figure is almost triple the £619,966 ($806,000) posted in 2014.
Trading volumes at FxPro UK throughout 2015 amounted to $63.5 billion, a figure which is almost three times higher than 2014’s $22.8 billion. The company is attributing the increase to increased volatility and the significantly higher number of clients of its services.
Tales from TIOmarkets: Not Just Another Trading CompetitionGo to article >>
At the same time the London-based company’s total expenses amounted to just above £900,000 throughout the year. The company posted a net operating profit after tax totaling £1.1 million ($1.4 million), which compares to last year’s loss of £63,000 ($81,000).
The company has almost doubled its cash reserves to £1.96 million from 2014’s £1.08 million. Retained earnings totaled just above £128,000 when compared to last year’s loss of £989,000.
Earlier this month, FxPro UK appointed a new director to its board, representing a further commitment by the company to continue building its team in London. Industry veteran Nick Beecroft joined the brokerage after several years at Saxo Markets UK, where he held the position of Chairman.