Trade Capital reports a 219% annual increase in revenues

Trade Capital UK Ltd, which operates the Trade.com brand in the United Kingdom, has reported annual revenues of £759,240 in 2022. The revenue is an annual increase of over 216%

Trade Capital reports a 219% jump in revenue

The revenue growth has seen the company shift its operation to being more profitable. In 2021, the company generated revenues of £240,009, which was more than double what was reported during the previous year. The revenue figures that have been reported for 2022 show that the growth trend has continued this year.

Trade Capital is a platform that provides access to multiple financial assets, including forex and contracts for differences (CFDs). The company attained profitability in 2022. During the year, it reported net profits of £140,694, which was a massive increase from the £71,861 loss that was reported during the previous year.

The pre-tax profits that were also reported by the company during the period were £186,951, which was also a massive jump from the £99,868 worth of losses reported during the previous year.

In its filing, the company said that the company’s operations in 2020 and 2021 were still in the infant stages. However, the company attained significant growth in 2022, which explains the positive figures it reported.

“In 2020/21, the company’s operations were at the initial stages following the authorization granted by the FCA… while the 2022 revenues recorded a 216% increase, and the net profit was increased by 295% compared to the net loss of 2021, more accurately comparative figure and performance figures will become available in subsequent years,” the filing says.

Trade Capital is a UK company that was incorporated in 2017. The company obtained approval from the FCA on September 2019. It launched its operations in mid-October 2019, and it has now achieved profitability after sustaining its operations a few years ago.

Trade Capital UK sees improved operations

Trade Capital UK generated a gross profit of £508,806 after considering a direct expense of £250,434 on the total revenues from the company. However, Trade Capital did not derive any income from the other revenue streams that it had in the previous year.

In 2021, the company reported £60,812 as the other “operating income.” Despite the notable increase in revenue, the company was able to lower the administrative costs, which dropped from £408,100 to £354,237.

The operating profit reported by the UK firm for 2022 was £154,569, which was a massive jump from the loss of £127,529 in the previous year. The net finance income also increased from £27,661 to £32,382.

Trade.com is one of the leading global brands in the financial market, with regulatory approval across multiple jurisdictions. The platform has expanded its operations outside the UK. It is also licensed in Cyprus and extends its operations in Europe through multiple offices is also licensed in Dubai, Mauritius, and South Africa. It also obtained a license from FINRA that enabled it to expand to the US.