Forex Broker Henyep Capital Markets UK Reports Disappointing 2017 Results

The firm managed to achieve a slight 0.3 percent increase in turnover year-on-year.

Henyep Capital Markets (UK) LTD, a foreign exchange (forex) and contracts for difference (CFD) broker, on Friday published its annual report and financial statements for the year ended December 31, 2017.

Henyep Captial Markets, which is the United Kingdom subsidiary of Henyep Holdings (BVI) Limited, achieved a total turnover of £3.1 million in 2017. When compared to the company’s 2016 financial year, this is a slight increase of 0.3 percent.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Operating profit for the forex broker was £123,192 during the year. This is actually down by 71.2 percent from the previous year, which recorded an operating profit of £427,482. Profit before tax was also down on a year-on-year basis. Specifically, it fell by 58.2 percent from £432,733 in 2016 to £180,812.

Suggested articles

TrioMarkets Partners with HokoCloud, Expands its Portfolio with Social TradingGo to article >>

According to the report, the key performance indicator for Henyep Capital Markets is the return on Net Assets. In 2017, the FCA-regulated brokerage had a return on Net Assets of 5.9 percent. During the previous year, the firm recorded a return of 13.9 percent.

Future Outlook for Henyep Capital Markets

In the report released on Friday, the Board states that it believes there is an increasing interest in CFD trading across its main geographies. They also believe that the broker will continue to capitalize on this trend throughout 2018. This is despite an ever-changing regulatory environment as a result of the European Securities and Markets Authority (ESMA).

While some of the financials did not paint an overly rosy picture for the forex and CFD broker, Henyep Capital Markets did see an increase in client deposits through the brokerage. In 2017, the total of client bank accounts as at the end of the year was £18.8 million. This is a jump of 23.8 percent year-on-year, as by the end of 2016 this value was £12.8 million.

Got a news tip? Let Us Know