OGM Experiences Drop in Earnings For Year Ending 30 September 2024
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
One Global Market (OGM), a UK-based contracts for differences (CFDs) broker, reported that its revenue for the year ending 30 September 2024 was £531,342. This was a 34.1% drop from the previous year’s earnings of £791,791. The information was shared in a recent Companies House filing.
OGM stated that £273,612 of its revenue came from commissions, while £283,730 was earned from technology fees, which had not been a source of income in the previous year. The filing explained that the broker had introduced technology fees as a new way to generate income.
OGM Aims To Enhance Services And Attract High-Value Traders
OGM said it made many changes in 2024 to help its customers. It updated its platforms and tools to match what customers like. The company also talked about a new bank partner. This partnership, it explained, gives better money safety and faster ways for customers to use their funds through private banking.
The platform shared that it became stronger with its money in 2024. It said it wanted to work with rich clients who already know how to trade. These clients, it stated, usually have $50,000 or more in their accounts.
The company said it follows rules set by the Financial Conduct Authority (FCA). It also helps people trade forex and CFDs, working with both regular and professional traders.
OGM makes its money in three ways: through spread markups, commissions, and swap premiums. It said it earns only when its clients trade, as it uses an agency model.
Even though it made less money overall, OGM said it earned £41,273 in profit for the year. This was much less than the £147,813 it earned the year before.
OGM Wants To Support Traders With Fair Practices And Advanced Tools
The company talked about problems around the world that slowed its growth. But it told its supporters that its strong finances let it keep growing and improving.
OGM also said it cut costs to handle its lower earnings. Sales costs went down to £440,153 from £123,677. Office costs dropped to £398,880 from £520,304.
The company said it understands what traders need because it was started by traders with over 20 years of experience. It said its goal is to bring honesty and fairness to trading markets.
The firm explained that it works with clients in the Middle East and Europe. It said it is growing fast and offers help in many languages to its traders.
OGM promised to let its clients trade forex, commodities, and indices from any device. It said it gives them easy tools to succeed in trading.
