CMC Markets Expect Higher Revenues in Fiscal 2020

CMC Markets revealed that it managed to achieve a strong net revenue in last year’s fiscal quarter ending March 31. Net trading revenue also posted strong figures across the group for the whole fiscal year of 2020.

The firm’s contracts for difference (CFD) business accounted for £241 million in gross client income. In the previous year, this figure came in at £216.0 million – meaning the broker saw an 11.6% increase year-over-year.

Strong underlying business performance led the increase in client income. Increased market activity in the final quarter also helped in the final quarter, driven by the coronavirus pandemic.

CMC’s surge in activity surpassed the reduced client activity seen in August 2018. The European Securities and Markets Authority implemented intervention measures at the time, which hindered much of the financial industry.

Now, the Group expects that its CFD net trading revenue of around £214 million, almost double when compared to 2019. Specifically, the broker achieved CFD net trading of £110.2 million.

Chief Executive Officer Peter Cruddas said that CMC grew more focus on its strategic priorities. The benefit of this focus started to come through in their performance this year, demonstrating a change from last year.

It’s Not Just CMC Markets

The coronavirus pandemic caused a sudden spike in volatility in the financial market not seen in decades. Foreign exchange, commodities, cryptocurrencies, and stock markets simultaneously experienced high volumes only previously during the Great Recession.

Because online trading offers a unique opportunity for traders, it has been one of the best-performing industry this year. 

As a result, online trading in firms like CMC Markets has been one of the best-performing market since the outbreak. It offers a unique trading opportunity for traders as the almost perfect chance to keep earning money. 

Call centers around the world are now also shifting their focus on utilizing increasing demand for online financial support. Daily news now gives special attention to the financial markets, especially those in online platforms.

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