Tera Europe's 2019 Turnover Drops 41%, Opening Dubai Branch

Tera Europe Limited, a UK’s multi-asset Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, has released its annual financial report, ending on December 31, 2019, showcasing a total yearly turnover of £2.07 million - a drop of 41.6 percent from the previous year’s £3.55 million.

The audited figure also dropped significantly in 2018, after increasing five-fold to £5.26 million the previous year.

That sharp dip also reflected in other areas, as the platform ended up with an after-tax profit of £149,600. In 2018, the company earned £268,134.

The sluggish numbers were the results of the multiple factors, including the uncertainties caused by the Coronavirus pandemic and also the restrictions imposed by the ESMA on brokers.

“...the lockdowns associated with the pandemic throughout the world have brought many uncertainties in the business environment; the Company expects general business conditions to be lackluster in the first half of 2020 and gradually pick up in the second half of 2020,” the company noted.

The trading volume on the platform also dropped 17 percent year-on-year in 2019 to £32 billion. From its CFD’s trading services, the brokerage received £1.8 million in income.

Tera Europe operates TeraFX in the UK and is also broadening its scope by focusing on other areas, including equity brokerage and fixed-income brokerage. It, however, highlighted that even with the expansion, the flagship 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 business would not be undermined.

The equity trading platform was launched in 2019, and since then, it recorded steady growth; however, individual numbers were not shared.

“The company expects Equity Trading and Fixed Income Trading business to further grow in 2020 although forex is still expected to be the main revenue stream in 2020,” the filing with the Companies House stated.

Expanding in new locations

The brokerage is focusing on the diversification of its expansion across various locations and is opening a new Dubai office this year. This, according to the company, will broaden its client base and mitigate the concentration risks.

Furthermore, Tera is also moving its focus from the retail clients to the professional and corporate clients due to the ESMA rules and restrictions.