Broker Hantec Markets has released its 2022 financial report, reporting an increase in revenue.
The broker reported revenues of £5.76 million for the period, up slightly from £5.38 million in 2021.
According to the report, Hantec Markets' administrative expenses increased by £400,000 to £5.84 million. The company reported a net loss of £83,968.
In addition, the broker reported that client funds held with the company fell 31% to £16.8 million over the past year. Meanwhile, the value of Hantec Markets' assets increased to £6.03 million in 2022, up from £5.98 million last year.
"The business has performed in line with the board's expectations, with all results for 2022 considered satisfactory given the increasing competition and regulation in the sector, as well as the global COVID pandemic," said Bashir Nurmohamed, CEO of Hantec Markets Group.
"Despite an extremely challenging environment, Hantec Markets managed to maintain the number of clients, client deposits, and trading volumes during the year in line with management's expectations," he added.
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