Exness Unveils “Born to Trade” Global Campaign
Despite a decline in active traders, CMC Markets increased its revenue per client in fiscal year 2024, surpassing competitors like Plus500.
CMC Markets (LON: CMCX) reported an 18% increase in average revenue per active customer to £4,685 for FY24. This figure surpasses Plus500’s average revenue per client of approximately $3,115 and is significantly higher than Saxo's $570 per client. However, the number of active customers decreased by over 10,000, marking a drop of less than 4%. Despite this, the company successfully increased its revenue per client, emphasizing its focus on institutional and high-value retail clients.
Financial Performance and Cost Management
CMC reported a 15% rise in net operating income to £332.8 million, exceeding its initial guidance of £290-£310 million. Trading revenue also increased by 11% to £259.1 million. While stockbroking and related services saw a decrease of £3.9 million, this was offset by a £22.3 million increase in 'other income' to £39.7 million, driven by higher interest rates on client and company cash. Adjusted profit before tax reached £80 million, up from £52.6 million in 2023, and profit before tax rose 21% to £63.3 million.
CMC implemented a comprehensive cost review program, resulting in a reduction of around 220 staff, approximately 18% of its global workforce. The review also targeted material spend areas such as premises costs, vendor rationalization, and capital allocation. The company's Q1 2025 trading update highlighted ongoing efforts to enhance cost efficiencies and deliver margin expansion, particularly in the institutional and B2B sectors.
Strategic Expansion
CMC expanded its geographical footprint, with 56% of net revenue generated outside the UK and Europe, up from 49% in 2023. This growth was supported by the launch of CMC Invest Singapore and the expansion of its Dubai subsidiary. The introduction of new products, including cash equities, index options, cryptocurrencies, and money market investments, contributed to last year's growth. Cash equities, in particular, were the top requested asset class from institutional clients.
CMC's institutional and B2B strategy received a boost from a new partnership with Revolut. Initial onboarding of Revolut clients has begun, with some clients now live and trading. CMC's centralised treasury management division and global treasury management system have played key roles in optimizing FX, share inventory, cash, and counterparty exposure, processing over £15 billion of turnover per day.
Market Challenges and Outlook
One of the few downsides in the last financial year was a £31.8 million drop in total segregated client money held by the group for trading clients, reducing to £517.6 million. For FY25, CMC expects net operating income to be in the range of £320-£360 million. The company remains focused on enhancing its institutional and B2B strategies, aiming for continued growth in the upcoming fiscal year.
IG has announced on its community forum that it will no longer offer PayPal as a payment option for UK users. This decision comes after discussions with the Financial Conduct Authority (FCA), prompting IG to revise its payment methods to align with regulatory standards.
Switching to Apple Pay
Following the change, users are encouraged to explore alternative payment methods for funding and withdrawing from their accounts. IG recommends Apple Pay as a viable alternative, highlighting its instant transactions and high authorization rates, which ensure a smooth and efficient payment experience.
An IG forum administrator stated, "This decision follows discussions with the FCA and has led us to adjust our payment methods. Rest assured, we have alternative options in place for funding and withdrawing from your account. We suggest utilizing Apple Pay, which offers instant transactions with high authorization rates for a smooth experience.”
Users with questions or concerns about this change are advised to contact IG directly for assistance.
Financial Performance of IG Subsidiaries in FY23
In other news, three British subsidiaries of IG Group released their fiscal year 2023 (FY23) financial data. According to reports filed with the British Companies House register, two subsidiaries experienced declines in profits, while one saw a notable increase in profitability.
IG Markets Limited, which provides over-the-counter (OTC) trading services, reported a drop in trading revenue from £453.6 million to £405.2 million. Its net profit decreased from £188.2 million to £171.3 million, attributed to inflation, higher interest rates, and market volatility.
IG Index Limited experienced a decline in net trading revenue, falling from £262.5 million to £236.5 million. Net profit also decreased to £102.5 million.
Conversely, IG Trading and Investments Limited, established in August 2022, reported a significant turnaround, achieving a net profit of £9.17 million compared to the previous year's loss of nearly £800,000. Total equity rose from £3.5 million to £20.7 million.
Webull Corporation has introduced a 24-hour stock trading feature for its customers in Thailand, making it the first brokerage in the country to offer such a service. With this launch, Thai investors can now trade US-listed equities and ETFs around the clock, expanding beyond the regular and extended US trading hours previously available on the platform.
Enhanced Trading Opportunities
The new feature provides Thai investors with access to over 15,000 US stocks, ETFs, and options, along with low commission rates and free real-time market data. Webull also offers advanced technical analysis tools, 24/7 customer service, and safeguards to manage price movement risks, ensuring price certainty and next-day settlement of trades.
This development aims to enhance trading flexibility for Thai investors, allowing for better portfolio diversification and improved trading experiences.
Global Expansion and Innovation
Chonladet Khemarattana, CEO of Webull Thailand, expressed excitement about the new feature, stating, “There is a strong interest from Thai investors to trade in the US markets. We are thrilled to introduce a new 24-hour trading feature for local retail investors, enabling them to trade effortlessly and around the clock, effectively bridging the time zone gap.”
Webull Thailand, the first US brokerage licensed to operate in the country, has recently introduced similar features in other key markets, including Singapore, Malaysia, Australia, Hong Kong SAR, and Japan. Operating in 15 regions across 11 major markets, Webull has over 40 million downloads globally.
Khemarattana added, “This new feature underscores our commitment to continuous innovation and developing new products and tools to make trading more accessible for our local investors. Thai investors can now trade US stocks as if they were living and trading in the US."
Exness, one of the largest multi-asset brokers globally, has launched its most significant brand campaign yet, titled “Born to Trade”. The campaign debuted on August 5 with a powerful video ad highlighting the passion and determination that defines the world of trading.
Targeting Passionate Traders
The “Born to Trade” campaign aims to resonate with traders who thrive on challenges and embrace opportunities. It seeks to remind traders that trading is more than just transactions—it's a reflection of their identity and commitment. According to Alfonso Cardalda, Chief Marketing Officer at Exness, “At Exness, we believe that real traders were born to trade; and that trading is an innate calling to which only the best of brokers can respond. The ‘Born to Trade’ campaign highlights the exceptional quality, dependability, and product superiority that clients consistently experience with Exness, showcasing exactly why we are the preferred choice for traders globally.”
The campaign emphasizes that trading is an innate skill and aims to emotionally connect with traders by recognizing their unique personalities and the dedication required to master the art of trading. By doing so, Exness positions itself as a supportive partner for traders on their journey.
Global Reach and Engagement
The “Born to Trade” campaign will be rolled out worldwide through various channels, including digital advertising, social media, and traditional media outlets in key global markets. This initiative is part of Exness’s bold marketing strategy, which began in April with its partnership with LALIGA in Latin America.
With this campaign, Exness reinforces its new brand identity, launched in January 2024, aiming to connect with its core audience in a meaningful way.
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