Abstract:The numbers were only for the UK business of the broker and not for its global operations. It maintained a low-cost base strategy in the UK.
Notesco UK Limited, which runs the United Kingdom operations of IronFX, has doubled its annual revenue for 2021. As seen in the latest Companies House filing, the broker generated revenue of $863,071 last year, compared to $431,449 in the previous year.
Though the operating expense of the company jumped last year, it ended the period with an operating profit of $111,079, coming out of a loss of $75,567 in 2020. After considering the other income, costs and taxes, it closed the year with a net profit of $69,747, compared to a loss of $56,556 in the previous year.
“The performance for the year, and the position at 31 December 2021, are considered to be satisfactory and the directors are optimistic about the future as the business seeks to continue to grow its client base in the UK,” the filing noted.
The company operates in the country under the authorization of the Financial Conduct Authority (FCA). Its principal activity in the year was dealing in investments as a principal (matched-principal broker). Its offerings trading services with currency pairs and contracts for differences (CFDs) of other popular asset classes.
Additionally, Notesco UK elaborated that it maintained a low-cost base strategy last year. “The directors are confident that with the low cost, together with a growing UK client base, the Company will continue to trade successfully in the future,” the filing added.
“The company does not rely on any specific KPI's, instead, relying on good general financial management with regards to debtors control, working capital levels and cost control. The directors are pleased with the performance over each of these areas in the period,” the company further elaborated.
eToro strengthens its Australian market presence with the $80M AUD acquisition of Spaceship, expanding its long-term savings and superannuation offerings.
OANDA Japan Inc., a subsidiary of the global online broker OANDA Corporation, has announced the termination of its Tokyo Server MT4 Discretionary Plan. The broker has notified its clients that the plan will no longer be available after December 13, 2024, marking a shift in the company's services for clients using the MetaTrader 4 (MT4) platform in Japan.
In the midst of the 2021 crypto and NFT boom, celebrities flocked to the burgeoning market of digital assets, promoting Non-Fungible Tokens (NFTs) as the next big thing. Fast forward to 2024, the glitter has faded, and many celebrity-endorsed NFTs have lost their allure. The question remains: what happened to celebrities’ NFTs, and why should this serve as a stark reminder for everyday investors?
Updated forex analysis shows USD weakness, focusing on key levels like EUR/USD, DXY bearish trend, and pivot points for major currency pairs.