Commodities Webinar
0

ATC Brokers UK Triples Revenue, Hits Profit

ATC Brokers UK has reported a successful fiscal year ending April 30, 2024, with a significant increase in turnover and gross profit, marking a return to profitability.

 

The Numbers

The company’s turnover nearly tripled to £5.6 million, up from £2.1 million the previous year. Despite a fivefold increase in sales costs to £2.6 million, ATC Brokers achieved a gross profit of over £3 million, doubling from the previous fiscal year. The operating profit was just under £1 million, with a net profit of £799,000, a stark contrast to the £47,600 loss reported the previous year.

The company’s net assets also saw a substantial increase, valued at £2.4 million at the end of the fiscal year, compared to £1.6 million in the previous year. This financial turnaround highlights ATC Brokers’ successful strategy in navigating the competitive forex and CFD market.

ATC Brokers is licensed in the UK and holds another authorization in the Cayman Islands, allowing it to provide FX/CFD services outside the UK, especially post-Brexit. The company’s focus on expanding its services and maintaining regulatory compliance has contributed to its financial success.

 

Oasis – The Ponzi Scheme

Earlier this year, ATC Brokers became involved in a legal case concerning a suspected $78 million Ponzi scheme called Oasis. Burton Wiand, acting as the receiver for Oasis International Group, sued ATC Brokers Ltd and the company’s co-founder, David Manoukian, alleging involvement in fraudulent transfers. However, the district court dismissed Wiand’s claims due to a lack of standing.

While ATC Brokers and TRADE.com have reported successful financial results, not all UK brokers have fared as well. Trade Nation, a spread betting and CFD provider, experienced a financial loss of £2.2 million due to lower turnover in its UK operations. Similarly, ParFX, an FCA-regulated platform, saw a 14% revenue drop in 2023, with net profit shrinking by 84% to $934,000.

Despite these mixed results in the industry, ATC Brokers’ financial performance demonstrates its resilience and strategic acumen. The company’s ability to adapt to market changes and focus on growth opportunities has positioned it well for continued success in the competitive forex and CFD market. As the industry evolves, ATC Brokers’ commitment to innovation and client satisfaction will likely play a crucial role in sustaining its profitability and market presence.



[the_ad id="24160"]

You might also like
Leave A Reply

Your email address will not be published.