ATFX UK's FY22 Financial Results Show Profit Surges by 273.3%

ATFX UK (AT Global Markets UK Limited), a branch of retail foreign exchange broker ATFX, released its financial report for the fiscal year ended October 31, 2022 (FY22), which shows a significant profit growth during the period.

Here's an overview of the broker's FY22 performance:

The revenue for this fiscal year reached £3,158,205, an increase of 7.6% from £2,936,482 in the previous fiscal year.

The operating profit for FY22 was £815,189, a rise of 274.7% compared to £217,563 in fiscal year 2021.

The profit for this fiscal year hit £838,189, a jump of 273.3% from £224,558 in the prior year.

Administrative expenses significantly decreased to £1,474,019, compared to £2,231,214 in FY21.

The cost of sales increased to £868,997, 78.2% higher than £487,705 last fiscal year.

Net assets increased from £6,560,784 to £7,398,953, with an annual growth rate of 12.8%.

ATFX UK has been continuing to develop its brand and has recruited a lot of key talents this year, including Gonzalo Canete, former executive at Swissquote, who serves as Chief Market Strategist at ATFX UK now, and Chris James from State Street also joined ATFX UK, serving as Head of Liquidity Management.

According to ATFX UK, it will continue to directly market into the European Economic Area and other international regions if permitted. It will mainly target the existing high net worth clients, fund managers, brokers, and banks who are seeking to diversify their investment portfolios and can accept the risk profile and volatility in derivative investments and trading.