Online foreign exchange and CFDs brokerage Tickmill has shared exclusively with Finance Magnates its results for the full year 2016. The company is reporting a sharp rise in revenues to $15.85 million. The figure is about three times higher than 2015’s $5.55 million.
Tickmill’s net profit swelled to $6.27 million last year, a figure which is 118 percent higher when compared to the previous year’s $2.88 million bottom line. The FCA regulated brokerage is reporting that its trading volumes marked a new record, surpassing the company’s forecasts for the year by $143 billion to a total of $473 billion. The figure increased 127 percent when compared to 2015.
Commenting on the results, the CEO of Tickmill, Duncan Anderson, said: “Our commitment to clients helped propel the exceptional results we posted for 2016. Our strategy to maintain some of the best trading conditions in the industry, focus on operational excellence and continuously invest in our technology, members and infrastructure are paying off.”
ATFX Institutional Business Continues to Expand: Adding a New Prime BrokerGo to article >>
Organic Growth, Acquisitions and Partnerships
The company is looking to continue growing both organically and via acquisitions and partnerships. Tickmill is also aiming to expand its Introducing Broker (IB) network and is projecting to post between $600 and $650 billion of full year trading volumes in 2017.
Tickmill officially launched its UK FCA regulated services in November 2016. The move has helped the company to establish itself in key Asian markets, and in the MENA region and South America. The firm is highlighting the areas as key growth drivers for 2017.
“The strong financial results seen across the board in 2016 are mainly attributable to an increasing number of new clients in Tickmill’s target markets becoming aware of the high quality of services the company offers,” Mr Anderson elaborates.