Trade Capital UK (TCUK) Ltd, which operates the Trade.com brand in the United Kingdom, closed 2022 with an annual revenue of £759,240, which is a yearly increase above 216 percent. The company generated £240,009 in 2021, more than double the previous year, and with the latest figure, it continues that growth trend.
Trade.com Is Profitable in the UK
The forex and contracts for differences (CFDs) operator also became profitable last year, netting £140,694 compared to a loss of £71,861 in the previous year. The pre-tax profits of the company came in at £186,951, recovering from £99,868 in losses.
“In 2020/21, the company’s operations were at the initial stages following the authorization granted by 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 Companies House filing of the firm stated.
The UK company was incorporated in 2017 and received the FCA’s approval in September 2019. It launched its operations in mid-October 2019.
Improved Operations
It generated a gross profit of £508,806 after considering a direct expense of £250,434 on the total revenue. However, it did not generate any income from other streams last year, while it brought in £60,812 as ‘other operating income’ in 2021. Despite the revenue rise, the UK company managed to decrease its administrative costs to £354,237 from £408,100.
TCUK’s operating profit for 2022 came in at £154,569, compared to a loss of £127,529 in the previous year. Its net finance income also jumped to £32,382 from £27,661.
Trade.com is a global brand with significant operations outside the United Kingdom. It also holds a Cypriot license and operates in Europe from multiple offices. The group also holds regulatory licenses in Dubai, South Africa, and Mauritius for its global operations. The brand also expanded into the US by obtaining a FINRA license.
Belgium’s crypto ads rules kick in; FINMA’s action; read today’s news nuggets here.
Trade Capital UK (TCUK) Ltd, which operates the Trade.com brand in the United Kingdom, closed 2022 with an annual revenue of £759,240, which is a yearly increase above 216 percent. The company generated £240,009 in 2021, more than double the previous year, and with the latest figure, it continues that growth trend.
Trade.com Is Profitable in the UK
The forex and contracts for differences (CFDs) operator also became profitable last year, netting £140,694 compared to a loss of £71,861 in the previous year. The pre-tax profits of the company came in at £186,951, recovering from £99,868 in losses.
“In 2020/21, the company’s operations were at the initial stages following the authorization granted by 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 Companies House filing of the firm stated.
The UK company was incorporated in 2017 and received the FCA’s approval in September 2019. It launched its operations in mid-October 2019.
Improved Operations
It generated a gross profit of £508,806 after considering a direct expense of £250,434 on the total revenue. However, it did not generate any income from other streams last year, while it brought in £60,812 as ‘other operating income’ in 2021. Despite the revenue rise, the UK company managed to decrease its administrative costs to £354,237 from £408,100.
TCUK’s operating profit for 2022 came in at £154,569, compared to a loss of £127,529 in the previous year. Its net finance income also jumped to £32,382 from £27,661.
Trade.com is a global brand with significant operations outside the United Kingdom. It also holds a Cypriot license and operates in Europe from multiple offices. The group also holds regulatory licenses in Dubai, South Africa, and Mauritius for its global operations. The brand also expanded into the US by obtaining a FINRA license.
Belgium’s crypto ads rules kick in; FINMA’s action; read today’s news nuggets here.
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Trade.com, a UK-based digital trading service provider, has seen a 216% jump in revenue for its UK operations in its most recent financial year.
The company claimed the peak in profits has been aided by its recent restructuring policy, which saw it refocus its efforts on services such as its card payment product, as well as its core trading and exchange operations.
Trade.com said it also received increased support from its customer base, which helped to fuel the company’s remarkable performance.
Chief Executive Officer, Robert Pisano, said: “At Trade.com, our customers are our number one priority. We have worked hard to ensure our products and services are the best in the industry, and that we are constantly innovating to stay ahead of the competition.
“This has enabled us to become a trusted partner to our customers and build a large and loyal customer base. Our customers have continued to take advantage of our products and services over the course of the last financial year, helping to drive our outstanding financial results.”
The company is now looking to further expand in the UK and other regions, such as the US, where its financial performance in the first half of the year has also been impressive.
The strong financial results from its UK operations will come as welcome news to the company, which has weathered some difficult trading conditions over the past 12 months.
Pisano added: “These results demonstrate the strength of Trade.com’s business model and our ability to stay vigorous in times of volatility. We are confident of continuing to build on this success as we look to the long-term future of Trade.com.”
