Exness UK, the UK arm of the financial services provider Exness, has released its financial results for the year ended 31 December 2020 today. The multi-asset broker saw a massive turnaround in 2020 as the company reported a significant increase in net assets, trading turnover and profit before tax.
According to the results, the company’s net assets reached $62,293,815 in the year ended 31 December 2020, compared to $4,622,116 in 2019. Exness UK’s profit before tax touched $1.29 million in 2020, compared to a loss of $1.07 million in 2019.
Exness UK posted trading turnover of $1,087,048 in 2020, compared to just $35,297 in 2019. The total income for 2020 also jumped substantially compared to the last year.
“The company’s key performance indicators are Net assets $62,293,815, a significant increase from the previous year where net assets amounted to $4,622,116. The main reason for the increase in net assets has been explained previously. Trading turnover reached $1,087,048 (2019: $35,297),” the company mentioned in the official filing.
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The latest announcement from Exness UK came after Exness reported record-breaking trading volume in July 2021. In the last month, the brokerage saw a substantial jump in key trading metrics including an overall trading volume of $975 billion. In addition, the company reported a decent jump in the number of active clients.
Since the start of 2021, Exness has seen consistent growth in trading volumes and the total number of active clients. Last month, Exness joined the Financial Commission, a self-regulatory organization in the financial services space, as a member. In January 2021, Exness received a regulatory license from the Financial Sector Conduct Authority (FSCA) in South Africa to operate as a financial service provider in the region. Furthermore, the broker termed Africa as an important region for strategic expansion. The company recently recruited Shlomi Dubish as its new Head of External Communications.
The latest results of Exness UK indicate that the Group has seen a substantial jump in demand for its services across different regions.