The trading volume on the platform dropped to $136 billion from $189 billion.
However, its profits jumped due to the reduction in administrative expenses.
The UK unit of Tickmill witnessed a decline in trading volume in 2024 to $136 billion of notional value from $189 billion in the previous year. This directly impacted the revenue of the company, which went down by 6 per cent to £6.2 million.
“The company saw a small drop in trading revenues as a result of a different mix of traded products and a decrease in swap and commission income,” the Companies House filing of Tickmill UK noted.
“At the same time, it incurred lower external swap and commission charges, and foreign exchange movements were reduced using hedging.”
The UK-based company detailed that it generates CFDs revenues from the dealing spread, while ETD revenues come from commission income charged per trade.
The company also generated £2.2 million from intercompany recharges or SLA agreements, which came down from the previous year’s £2.7 million.
However, the company’s pre-tax profits jumped to £1.16 million from only about £123,000 in the previous year, mainly due to a reduction in administrative expenses and substantial interest income.
Indeed, administrative expenses came down to £7.7 million from £9.5 million.
It ended the year netting £881,363.
Income statement of Tickmill UK
Tickmill’s Push in the Middle East
Although the figures only represent Tickmill’s business in the UK, it is a global brand. Outside the UK, it is regulated by the authorities in Cyprus and Seychelles and also has a representative office in Dubai’s free trade zone.
These moves can be justified given the profitability of UAE-based traders.
Tickmill is yet to reveal its latest Middle East-specific numbers, but it handled $135 billion in trading volume in the first half of 2024, which then grew by 54 per cent.
The UK unit of Tickmill witnessed a decline in trading volume in 2024 to $136 billion of notional value from $189 billion in the previous year. This directly impacted the revenue of the company, which went down by 6 per cent to £6.2 million.
“The company saw a small drop in trading revenues as a result of a different mix of traded products and a decrease in swap and commission income,” the Companies House filing of Tickmill UK noted.
“At the same time, it incurred lower external swap and commission charges, and foreign exchange movements were reduced using hedging.”
The UK-based company detailed that it generates CFDs revenues from the dealing spread, while ETD revenues come from commission income charged per trade.
The company also generated £2.2 million from intercompany recharges or SLA agreements, which came down from the previous year’s £2.7 million.
However, the company’s pre-tax profits jumped to £1.16 million from only about £123,000 in the previous year, mainly due to a reduction in administrative expenses and substantial interest income.
Indeed, administrative expenses came down to £7.7 million from £9.5 million.
It ended the year netting £881,363.
Income statement of Tickmill UK
Tickmill’s Push in the Middle East
Although the figures only represent Tickmill’s business in the UK, it is a global brand. Outside the UK, it is regulated by the authorities in Cyprus and Seychelles and also has a representative office in Dubai’s free trade zone.
These moves can be justified given the profitability of UAE-based traders.
Tickmill is yet to reveal its latest Middle East-specific numbers, but it handled $135 billion in trading volume in the first half of 2024, which then grew by 54 per cent.
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
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