Darwinex Profits Increase 70% In The UK As Trader Equity Remains Constant

Tradeslide Trading Tech Limited, which operates the Darwinex brand across the UK, has filed an annual report for the financial period ending December 31, 2022. The brokerage platform reported a nearly 70% profit increase during the period. The profits reported by the company during the period increased from €225,000 in 2021 to €377,000.

Darwinex profits rise by 70% in the UK

The company published its financial results with the UK Companies House. The financials reported by the company are for an 18-month period from June 30, 2021, to December 31, 2022.

The gross profits the UK-based retail brokerage platform and asset manager reported came to €7.8 million, a significant increase from €4.1 million. The overall turnover reported by the company also jumped from €5.3 million to €9.6 million during the period.

Tradeslide noted that the trader equity during that period, the total amount of money traders have in their accounts, remained stable. The assets under management reported during the period also increased by 117%.

Tradeslide added that during the financial period, there were no changes in the capital or debt position at the company. The business has also made significant re-investments for incremental revenue to expand its financial activities. The company further said it would continue investing in its marketing activities in the coming months.

Tradeslide’s positive developments

In the recent financial report, Tradeslide mentioned some key milestones it had achieved during the period. One of these milestones is the integration with Interactive Broker, one of the leading electronic trading platforms in the United States.

This integration will allow the clients at Darwinex to access a wide range of financial assets on the Interactive Brokers platform, including exchange-traded funds, futures, and shares. The integration will also allow IBKR clients to access various analytical tools to assess the strategy, participate in seed capital and attract capital to the platform.

The other positive development reported by Darwinex during the period is the launch of Darwinex Zero. The latter is a subscription-based trading platform where traders can pay a monthly fee to trade using a virtual account. This platform also offers seed capital to traders while sharing in their profits.

At the time, Darwinex said that “Darwinex Zero was created to enhance our offering in areas where we believed we had room for improvement. We are convinced that D-zero reinforces our vision and the ecosystem we have created over the years.”

Last year, Darwinex attained a significant milestone after obtaining an operational license from the financial markets regulator in Spain. This license allowed the company to offer its trading services legally to retail customers based in Spain and other countries in the European Economic Area. The move marked a significant expansion in the company’s operation and brand presence.