LandFX UK Almost Broke Even in 2020 with 63% Revenue Jump
- The broker reported a pre-tax loss of £8,720, which is down from the previous year’s £221,167 loss.
FCA-regulated LandFX UK Ltd, which is a subsidiary of the LandFX group, disclosed its annual financials for the year 2020, ending on December 31. The broker continued to report a solid jump in all key metrics and turned profits after a tax credit.
The revenue of the UK arm for the period came in at £766,199, compared to the previous year’s £469,689. That was a year-over-year gain of more than 63 percent. Its primary source of revenue is obtained from the commissions charged on 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 tradi 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 tradi Read this Term and CFDs trading and depends heavily on the trading volume.
Turns Net Profit
Though the sales cost and administrative expense increased with the revenue, the broker almost broke even with a pre-tax loss of only £8,720, while last year it reported a loss of £221,167. However, after a tax credit, it turned a net profit of £25,260.
In addition, the net asset of the UK company increased to £411,471 at the end of 2020 from the previous year’s £385,611, thus strengthening the balance sheet.
LandFX UK operates with a license obtained from the Financial Conduct Authority (FCA) in 2016. It launched an institutional offering under the brand Land-Liquidity and provides institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for FX, CFDs, metals and commodities. It focuses on filling the gap between clients and prime brokers that require a substantial amount of capital to provide an institutional level of liquidity.
Furthermore, the broker highlighted in the filing that it has continued to increase its client base in the European and non-European markets.
“During the year, the company continued to expand its client base in [the] European and non-European market. This was achieved through the use of on-line and off-line marketing campaigns,” the company noted in the filing.
FCA-regulated LandFX UK Ltd, which is a subsidiary of the LandFX group, disclosed its annual financials for the year 2020, ending on December 31. The broker continued to report a solid jump in all key metrics and turned profits after a tax credit.
The revenue of the UK arm for the period came in at £766,199, compared to the previous year’s £469,689. That was a year-over-year gain of more than 63 percent. Its primary source of revenue is obtained from the commissions charged on 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 tradi 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 tradi Read this Term and CFDs trading and depends heavily on the trading volume.
Turns Net Profit
Though the sales cost and administrative expense increased with the revenue, the broker almost broke even with a pre-tax loss of only £8,720, while last year it reported a loss of £221,167. However, after a tax credit, it turned a net profit of £25,260.
In addition, the net asset of the UK company increased to £411,471 at the end of 2020 from the previous year’s £385,611, thus strengthening the balance sheet.
LandFX UK operates with a license obtained from the Financial Conduct Authority (FCA) in 2016. It launched an institutional offering under the brand Land-Liquidity and provides institutional Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term for FX, CFDs, metals and commodities. It focuses on filling the gap between clients and prime brokers that require a substantial amount of capital to provide an institutional level of liquidity.
Furthermore, the broker highlighted in the filing that it has continued to increase its client base in the European and non-European markets.
“During the year, the company continued to expand its client base in [the] European and non-European market. This was achieved through the use of on-line and off-line marketing campaigns,” the company noted in the filing.