Broker ActivTrades has released its economic figures for fiscal year 2022, according to which the company made a net profit of £16.3 million on revenue of £50.2 million.
On an annualized basis, ActivTrades' revenue for FY 2022 was up more than 50 percent from £33.4 million in 2021.
The broker's pre-tax profit rose to £19.3 million from £4.1 million in FY 2021. Net profit jumped 380% to £16.3 million from £3.4 million, according to Finance Magnates.
The broker cited high volatility in the global market and an increase in its client base as the main reasons for the growth in its financial performance.
In FY 2022, ActiveTrades' client base increased by 8,118 new clients and reached 20,339 active users.
Total client deposits increased from £95.7 million to £103.1 million, and average monthly trading volume on the platform increased by 24% to $51.8 billion.
ActiveTrades said it will continue to pursue its strategy of growing its client base by providing superior client service, innovative solutions, an expanded range of investment products, and a series of promotional campaigns.
We previously highlighted that ActivTrades had entered into a partnership agreement with TradingView that would give its clients access to new tools and the ability to trade directly from TradingView charts.
ActivTrades has been in business since 2001 and offers its clients trading in Forex, CFDs, stocks, ETFs, and other instruments. The broker has received many prestigious awards and accolades.
