Strong revenues were driven by new clients and the solid performance of its institutional team.
Alpha FX, a United Kingdom-based foreign exchange (Forex) service provider, has published its full-year audited results for the year ended December 31, 2018. As the firm previously forecast, it managed to achieve a sharp uptick in revenue.
Specifically, revenue for 2018 came in at £23.5 million which represents a growth of 73 percent when measured against the previous year, which in turn achieved a revenue increase of 60 percent to reach £13.5 million.
Alpha FX Revenues Driven by New Clients
The uptick in revenue was driven by an increasing number of clients, both within the UK and overseas, as well as revenues derived from its institutional team which was launched in March of last year, the statement from the company said.
Underlying profit was also up on a year-on-year comparison, increasing by 48 percent from the £6.8 million reported in 2017 to £10.0 million in 2018. On a reported basis, operating profit jumped by 72 percent to reach £9.7 million, up from £5.6 million in 2017.
Commenting on the results, Morgan Tillbrook, Chief Executive Officer of Alpha FX, said: "I'm very happy with the progress we have made during the year. As well as once again delivering strong revenue and profit growth, the impact of the investments made in the previous year highlight the strength of our strategy, and the returns that we are seeing give us great confidence for the future."
Alpha FX focuses on managing the exchange rate risk for corporates and institutions that trade internationally. During 2018, the UK-headquartered company expanded its business with the launch of its institutional team, the opening of its office in Toronto so the firm could focus on the Canadian market, as well as the launch of its international Payments platform, Alpha Pay.
This, along with its continued operations, led to a 55 percent increase in client numbers, from 310 in 2017 to 482 in 2018. Furthermore, the number of staff members increased from 51 to 82, as the company continued to expand.
Alpha FX Expects Bright 2019
Looking to the future, Alpha FX believes its future is bright, claiming that it is barely scratching the surface of the Group’s potential. According to the statement, the first quarter of 2019 has begun well, and as it continues to invest in its operations and take advantage of its growing market opportunity, it expects another year of continued progress in all areas of the business.
"Alpha's success continues to be built on the passion, commitment and vision of its people, reinforced by the strength of its culture. On behalf of the Board, I would like to thank all our people for their contribution to Alpha's success, and look forward to building on it in 2019,” added Clive Kahn, Non-Executive Chairman of Alpha FX.
Alpha FX, a United Kingdom-based foreign exchange (Forex) service provider, has published its full-year audited results for the year ended December 31, 2018. As the firm previously forecast, it managed to achieve a sharp uptick in revenue.
Specifically, revenue for 2018 came in at £23.5 million which represents a growth of 73 percent when measured against the previous year, which in turn achieved a revenue increase of 60 percent to reach £13.5 million.
Alpha FX Revenues Driven by New Clients
The uptick in revenue was driven by an increasing number of clients, both within the UK and overseas, as well as revenues derived from its institutional team which was launched in March of last year, the statement from the company said.
Underlying profit was also up on a year-on-year comparison, increasing by 48 percent from the £6.8 million reported in 2017 to £10.0 million in 2018. On a reported basis, operating profit jumped by 72 percent to reach £9.7 million, up from £5.6 million in 2017.
Commenting on the results, Morgan Tillbrook, Chief Executive Officer of Alpha FX, said: "I'm very happy with the progress we have made during the year. As well as once again delivering strong revenue and profit growth, the impact of the investments made in the previous year highlight the strength of our strategy, and the returns that we are seeing give us great confidence for the future."
Alpha FX focuses on managing the exchange rate risk for corporates and institutions that trade internationally. During 2018, the UK-headquartered company expanded its business with the launch of its institutional team, the opening of its office in Toronto so the firm could focus on the Canadian market, as well as the launch of its international Payments platform, Alpha Pay.
This, along with its continued operations, led to a 55 percent increase in client numbers, from 310 in 2017 to 482 in 2018. Furthermore, the number of staff members increased from 51 to 82, as the company continued to expand.
Alpha FX Expects Bright 2019
Looking to the future, Alpha FX believes its future is bright, claiming that it is barely scratching the surface of the Group’s potential. According to the statement, the first quarter of 2019 has begun well, and as it continues to invest in its operations and take advantage of its growing market opportunity, it expects another year of continued progress in all areas of the business.
"Alpha's success continues to be built on the passion, commitment and vision of its people, reinforced by the strength of its culture. On behalf of the Board, I would like to thank all our people for their contribution to Alpha's success, and look forward to building on it in 2019,” added Clive Kahn, Non-Executive Chairman of Alpha FX.
Institutional FX Demand Continues to Climb in April
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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