London headquartered, FCA regulated brokerage ETX Capital has continued its rapid expansion. Accoding to a Companies House filing the firm’s revenue increased by 20 per cent to £41.3 million ($50.1 million) in 2015. For the same period the company also reported that its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) amounted to £4.2 million ($5.2 million), a figure which is higher by 11 per cent.
According to the company’s annual report, ETX Capital’s growth has been driven by increasing client numbers and higher revenue capture per client. The number of clients increased by 36 per cent year-on-year, reaching to about 10 000 active clients per month.
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Looking at revenue composition, the company’s income from spreads has increased to 87 per cent of the total compared to 71 per cent in 2014. The move higher has been driven by higher trading volumes with retail traders accounting for £30.6 million, which is higher by 59 per cent when compared to the previous year and institutional traders adding £5.2 million (up 2 per cent when compared to 2014).
The company also reduced its marketing costs in the run-up to the launch of its new mobile platform and website. The company has increased spending to £4.1 million during the year, due in part to the development of the new frontends. The company is ramping up marketing spend in 2016 after the launch of the redesigned website and mobile front ends.
ETX Capital states that it was affected by the Swiss National Bank (SNB) event, however the figure has been limited and hence the financial impact has not been officially disclosed.