Advanced Markets reports a 65% revenue surge in 2022

Advanced Markets Ltd, a UK-based trading arm of a well-known multi-asset liquidity and prime-of-prime service provider, recently issued its financial report for 2022, revealing a major surge in revenue for last year.

The company’s annual report and year-end financial statement for the 12-month period that ended on December 31, 2022 revealed an extremely profitable year for the company. These new results were filed with the UK Companies House, and they show a turnover in conjunction with a fairly modest profit for the period.

Specifically, Advanced Markets saw a revenue surge from 1.29 million GBP in 2021 to 2.12 million GBP in 2022. The surge represents a 65% increase on a year-over-year (YoY) basis, which is the company’s greatest growth segment to date.

Operating costs surged alongside the profits

Unfortunately, the same period also led to a significant rise in administrative expenses, and the company reported that the costs went up from 1.31 million pounds in 2021 to 1.74 million GBP in 2022. In other words, the costs have gone up by around 33%.

The group’s bottom line metric shows that Advanced reported a net profit of £372,673, which is still a considerable increase of the net profit of only £10,330 that the company reported one year earlier.

Advanced Markets is an institutional business that operates a 100% STO/agency model, based on its AFSL and FCA licenses. Its STP platform allows it to offer forex market participants the ability to trade on prices that come from over 10 FX banks in an anonymous market structure. That way, the traders know that the price data comes from reliable sources, and that it is safe to trust it.

The company also did a lot of work further to improve its offering over the last few years. For example, it boosted its liquidity offering in the last two years by adding CFDs on cryptocurrencies and single stocks. This also marked the beginning of a rather decisive move for the firm, which allowed it to enter the growing crypto arena.

Advanced onboards Daman Securities as its newest client

The company also recently onboarded new clients, such as the UAE-headquartered financial services provider Daman Securities. Daman joined Advanced Markets as a client earlier this month, and it will use the initiative to expand its portfolio strategically. Specifically, Daman Securities will leverage Advanced Markets’ capabilities, allowing it to offer its customers access to new financial instruments.

Some of them will include major and/or exotic crypto pairs, as well as indices, commodities, and more. Daman also intends to offer OTC margined derivative contracts, including CFTs and spot foreign exchange trading.