ETX Capital Sees £2.6M Net Loss in 2019, Recovers in 2020
- Q1 of 2020 average monthly web spread surged 144 percent from the last quarter.

Monecor (London) Limited, better known by its trade name ETX Capital, has published its financials for 2019 and revealed some numbers for 2020. Though the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and CFDs brokerage saw a decline in its revenue for 2019, it recovered significantly last year.
The latest Companies House filing shows that the brokerage ended 2019 with net revenue of £21.4 million, a decline of 34 percent from the previous year’s numbers. The overall decline was mostly due to 22 percent in the broker’s web spread revenues and a 17 percent fall in its active customers.
Additionally, the total acquisition cost of the broker went down by 29 percent when compared to the previous year’s numbers, while the commissions paid out to introducing brokers reduced by 42 percent.
The decline in business of the year resulted in the broker to turn a pre-tax loss of £3.2 million. In 2018, ETX posted a pre-tax profit of £2.5 million. The net loss for the year remained at £2.6 million.
Indeed, the brokerage industry has seen the extended impact of ESMA leverage restriction on their 2019 business.
Business Boomed in 2020
Moreover, the broker shared some of its 2020 figures with Finance Magnates to show a recovering business. Its trading revenue went up by 49 percent in the first eleven months of 2020, compared to the same period in 2019.
The number of processed trades upped by 32 percent, while trades per client and spreads per trade were increased by 29 percent and 18 percent, respectively. Furthermore, it onboarded more new traders last year, compared to 2019, and the number of active clients went up.
No doubt, ETX benefited heavily from the market volatility last March due to the economic impact of COVID-19. Its monthly average web spread in Q1 of 2020 alone was 144 percent higher than the last quarter of 2019.
“In 2020, despite a challenging year due to COVID-19, we have been able to successfully optimize areas of our business in order to scale more efficiently - we see our revenues over 50% higher compared to 2019 and a return to profitability,” Adler added.
“In addition, we have been further energized due to the purchase of the business in Q4 2020 by Guru Capital. We look forward to continuing to deliver value to our clients in 2021.”
Monecor (London) Limited, better known by its trade name ETX Capital, has published its financials for 2019 and revealed some numbers for 2020. Though the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and CFDs brokerage saw a decline in its revenue for 2019, it recovered significantly last year.
The latest Companies House filing shows that the brokerage ended 2019 with net revenue of £21.4 million, a decline of 34 percent from the previous year’s numbers. The overall decline was mostly due to 22 percent in the broker’s web spread revenues and a 17 percent fall in its active customers.
Additionally, the total acquisition cost of the broker went down by 29 percent when compared to the previous year’s numbers, while the commissions paid out to introducing brokers reduced by 42 percent.
The decline in business of the year resulted in the broker to turn a pre-tax loss of £3.2 million. In 2018, ETX posted a pre-tax profit of £2.5 million. The net loss for the year remained at £2.6 million.
Indeed, the brokerage industry has seen the extended impact of ESMA leverage restriction on their 2019 business.
Business Boomed in 2020
Moreover, the broker shared some of its 2020 figures with Finance Magnates to show a recovering business. Its trading revenue went up by 49 percent in the first eleven months of 2020, compared to the same period in 2019.
The number of processed trades upped by 32 percent, while trades per client and spreads per trade were increased by 29 percent and 18 percent, respectively. Furthermore, it onboarded more new traders last year, compared to 2019, and the number of active clients went up.
No doubt, ETX benefited heavily from the market volatility last March due to the economic impact of COVID-19. Its monthly average web spread in Q1 of 2020 alone was 144 percent higher than the last quarter of 2019.
“In 2020, despite a challenging year due to COVID-19, we have been able to successfully optimize areas of our business in order to scale more efficiently - we see our revenues over 50% higher compared to 2019 and a return to profitability,” Adler added.
“In addition, we have been further energized due to the purchase of the business in Q4 2020 by Guru Capital. We look forward to continuing to deliver value to our clients in 2021.”