ATFX Connects Revenue For 2023 Doubles To £8.18 million

AT Global Markets (UK) Limited, the operator of ATFX, has announced its revenue results for the 2023 fiscal year. According to the report, the firm gained an annual turnover of over £8.18 million. This shows a 95.8% surge from the £3.16 million it recorded in the previous financial year.

The firm also gained considerably in its net income, reaching £1.38 million, showing a 64.8% increase from £838,189 the previous year.

ATFX Connect Had A Strong Year

ATFX Connect revealed in its recent Companies House filing that it had a solid financial year. The report showed that its sales administrative costs grew alongside its revenue.

The firm realized a sales cost of £1.9 million, representing an increase of 119.2% from the previous year. It also recorded an impressive performance in administrative expenses, which grew from £1.47 million in the last year to £2.86 million. This represents an increase of 94.5%.

ATFX also announced that its operating profit reached £1.4 million after the direct costs. Considering the payable and receivable interests, the firm’s pre-tax profits also surged to £1.45 million. The figures represent a 72.4% increase from the previous financial year.

ATFX has cemented itself as a top Forex and CFDs trading sector brand. The company is licensed by the UK’s Financial Conduct Authority (FCA) and operates in several other regions.

It owns the ATFX Connect brand and offers its services to high-net-worth individuals and institutions. However, its services are not available to retail clients. The company stated that it wants to continue strengthening its brand globally.

ATFX Plans To Expand Its Operations In The EEA Region

The platform stated that its main focus is on the forex markets, although it offers other contract-based services in stock indices, individual stocks, oils, and precious metals. The company will continue to expand its operations across the EEA region and other global territories.

Its main target markets include banks, brokers, fund managers, and high-net-worth clients who want to diversify their investment portfolios. The firm also targets institutions and clients comfortable with the volatility and high-risk profile that trading and investing in derivatives can offer.

While ATFX has its headquarters in the UK, it also has operating licenses in several jurisdictions, including the United Arab Emirates, Mauritius, and Cyprus. The platform recently completed the acquisition of Rakuten Australia’s CFD platform, which gives it the license to operate in the country.

Additionally, the company is expanding its presence by appointing industry veterans, including John Bogue and Drew Niv, to head some of its business units.