Tickmill UK Sees 86% Revenue Bounce in 2021 regardless of a Income Decline
FCA-mandated Eighty-six percent of Tickmill UK Restricted’s pre-tax earnings increased.
Tickmill UK Restricted, a subsidiary of the larger Tickmill Group and subject to FCA regulation, announced an 86% increase in pre-tax earnings for the year 2021 that concluded on December 31. Without a doubt, the amount was £1.48 million as opposed to £796,121 the year before. The net profit at the end of the year increased from £677,290 to £1.26 million after taxes were deducted.
However, the broker’s overall revenue from its UK business decreased. It was £7.68 million, an 8.3% drop from the previous year. Despite a decrease in income, the broker was able to lower its administrative costs for the year, which led to an operating profit of £1.5 million—a rise of 85.5% on an annual basis.
Tickmill offers CFDs on indices, commodities, and bonds in addition to FX pairs. It also introduced exchange-traded derivatives (ETDs) to its professional and retail clientele, making significant investments in the new business segment. It also keeps expanding the range of products it offers.
Customer Data
The trading activity on the UK platform, which was almost unchanged, was further underlined in the Companies House statement. In contrast to the previous year’s $196 billion, the trade volume in the most recent fiscal year was $195 billion. The number of trades decreased to 8.6 million from 9.8 million, indicating a considerable dip in trading activity.
Furthermore, there was a 40% decline in the quantity of new customers that Tickmill’s UK platform was able to acquire. 3,947 new customers were added over the last fiscal year, down from 6,618 during the prior one.
According to the Companies House report, “for the twelve months… trading conditions were again affected by fluctuations in market volatility due to the global COVID pandemic that has dominated much of 2020 and 2021.”
Significant geopolitical developments also had an impact on trade volumes and frequency.
