Zenfinex Limited, which was founded and headed by industry veteran, Nick Cooke, released its annual financials ending on November 30, 2020, giving some insights into the company’s business.
The latest Companies House filing detailed that the turnover of the retail broker for the year came in at £17,281, while it was £24,558 in the previous year. The Financial Conduct Authority-regulated broker generates revenue from spread markups, commissions and swap premiums.
However, the year remained crucial for the broker as its focus was to increase the infrastructure capabilities of the company. The filing highlighted that the broker made significant investments into ‘personal technology, systems and process designs’.
Indeed, the impact of these investments can be clearly seen on the income statement. The administrative costs to the broker shot up to £514,198 from the previous year’s £39,272, which resulted in a pre-tax loss of £496,917.
Expectations Are High for 2021
Despite the revenue slump and the losses, Zenfinex is now expecting a significant increase in the trading volume in the financial year 2021. But, it will continue its investments in technology and infrastructure.
Furthermore, the broker revealed that it has issued 414,475 ordinary shares at the face value of £1 to provide additional working capital. Finance Magnates reported last year that the brokerage secured £5 million in a series of funding rounds.
Zenfinex considers itself as a ‘boutique brokerage’ and offers services to both retail and professional clients. In an interview with Finance Magnates earlier this year, Cooke revealed that the broker has plans to expand its territories in Asia and the Middle East. It already has five offices and applied for licenses in multiple jurisdictions.
“Once the necessary regulatory permissions are approved in these key regions, we will allocate a budget to expand our team and Marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Read this Term efforts,” Cooke said.
Zenfinex Limited, which was founded and headed by industry veteran, Nick Cooke, released its annual financials ending on November 30, 2020, giving some insights into the company’s business.
The latest Companies House filing detailed that the turnover of the retail broker for the year came in at £17,281, while it was £24,558 in the previous year. The Financial Conduct Authority-regulated broker generates revenue from spread markups, commissions and swap premiums.
However, the year remained crucial for the broker as its focus was to increase the infrastructure capabilities of the company. The filing highlighted that the broker made significant investments into ‘personal technology, systems and process designs’.
Indeed, the impact of these investments can be clearly seen on the income statement. The administrative costs to the broker shot up to £514,198 from the previous year’s £39,272, which resulted in a pre-tax loss of £496,917.
Expectations Are High for 2021
Despite the revenue slump and the losses, Zenfinex is now expecting a significant increase in the trading volume in the financial year 2021. But, it will continue its investments in technology and infrastructure.
Furthermore, the broker revealed that it has issued 414,475 ordinary shares at the face value of £1 to provide additional working capital. Finance Magnates reported last year that the brokerage secured £5 million in a series of funding rounds.
Zenfinex considers itself as a ‘boutique brokerage’ and offers services to both retail and professional clients. In an interview with Finance Magnates earlier this year, Cooke revealed that the broker has plans to expand its territories in Asia and the Middle East. It already has five offices and applied for licenses in multiple jurisdictions.
“Once the necessary regulatory permissions are approved in these key regions, we will allocate a budget to expand our team and Marketing
Marketing
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have to handle the acquisition of traders, retaining them for a longer period of time or distinguishing between brokerage and competitors.What Are the Most Common Marketing Strategies Used by FX Brokers?This process can take shape in a variety of forms. Advertising is the most commonly deployed technique for forex marketing.This includes a marketing plan that touches on digital and traditional advertising. Advertising can include banner ads, notifications, newsletters, or other mechanisms for drawing attention to any brand or brokerage.Blog posting or other forms of search engine optimization (SEO) are also effective marketing tools for forex brokers.Well-organized and attractive pieces of content on websites are very useful for users and clients and have proven to be successful marketing strategies.Such efforts also enable websites to be found by those looking for what a broker offers and those who are looking for some knowledge about the trading industry. This can also help generate traffic on landing pages, converting sales. Social media has also rapidly evolved as a critical element of marketing.Forex brokers rely on social media such as Twitter, Facebook, or Linkedin for marketing needs, capable of reaching a huge audience. Ultimately marketing requires efforts on part of brokers to bridge the gap with their desired audience. In this instance, this means potential clients or existing ones.
Read this Term efforts,” Cooke said.
