Capital Index (UK) Ltd. has unveiled its financial results for 2022, reporting a decline in revenue.
The broker's revenue fell by 14% to £1.46 million in the period under review, while its net loss narrowed by £202,000 from £239,000 in 2021.
Client funds held by Capital Index for 2022 fell to £3.6 million, down 35% from the £5.5 million registered in 2021, FNG said.
Capital Index's main source of income is transaction spreads generated from client trading activity.
The company's management attributes the weak performance in 2022 to a difficult year and the so-called "cost of living crisis," which affected both client numbers and trading activity in the UK market.
However, due to changes in the organizational structure made in the previous year and other active strategies, the company's revenues are expected to increase in 2023, and it will return to profitability.
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