TF Global Markets (UK) Ltd, the British arm of ThinkMarkets, unveiled on Thursday the full accounts for the year ended on December 31, 2020. According to the company, gross profit netted GBP 4.38 million, which is up from the figure posted in the prior year of GBP 3.89 million.
In terms of operating profits, TF Global Markets unveiled that it was GBP 206,556.00 which represented a decline from the 2019 number of GBP 356,592.00. Moving onto profits before taxation, the broker reported GBP 274,556.00 for the fiscal year of 2020, which is down from the figure seen in the prior year of GBP 422,508.00.
Furthermore, the profits for the financial year 2020 hit GBP 278,925.00, which is down from the GBP 429,672.00 witnessed in 2019. That said, the total comprehensive income for the year in TF Global Markets (UK) Ltd was GBP 278,925.00, which is down from the prior year’s figure of GBP 429,672.00. Also, the total equity for the firm in 2020 was GBP 2.86 million, which is slightly up from the prior year’s amount of GBP 2.58 million. Overall, its total balance as of December 31, 2020, accounted for GBP 2,867,912.00, while its cash and equivalents at the end of the year were GBP 2,402,013.00, which is an increase from the 2019 figure of GBP 605,001.00.
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Recent ThinkMarkets Announcements
Early this month, Finance Magnates reported the announcement of ThinkMarkets of launching its institutional business with a new platform called Liquidity.net, which is registered with and regulated by the UK’s Financial Conduct Authority (FCA). With offices in London and Dubai, the institutional platform will provide multi-asset liquidity provision. Furthermore, it will leverage its prime broker relationships to target banks, brokers, hedge funds and asset managers.
Besides the usual prime-of-prime partnerships, Liquidity.net will provide white-label offerings through MetaTrader 4, MetaTrader 5 and Integral.