EC Markets posts $3.24M revenue and $514K net profit in 2024
EC Markets Group reported a significant improvement in its 2024 financial results, noting strong growth in both revenue and profitability. According to the company’s strategic report for the year ended Dec. 31, 2024, turnover nearly doubled to $3.24 million from $1.71 million in 2023.
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The data showed that operating profit rose to $614,622 compared with $315,933 a year earlier, while profit before tax increased from $317,886 to $617,456. Net profit stood at $513,869, up 15% year over year, despite a deferred-tax expense of $103,587 versus a tax credit in 2023.
The growth was driven by increased client activity in CFDs and spot forex, along with steady income from risk-management services provided to an affiliated regulated broker. Management stressed that all key performance indicators — turnover, operating profit, and net assets — advanced significantly during the year.
Balance sheet strengthens
The company also reported marked improvement in its financial position. Net assets rose 48% to $1.59 million from $1.08 million in 2023, supported by retained earnings and a stronger cash base. Cash and cash equivalents more than doubled to $1.62 million from $682,196 a year earlier. Operating cash flow surged to $980,561 in 2024, up from $179,479 the previous year.
Stronger working-capital discipline contributed to the results: debtors dropped sharply to $41,221 from $494,364, while creditors rose moderately to $114,428 from $102,798. Capital spending increased to $41,044 from $5,144 in 2023, raising the net book value of tangible assets to $41,915 by year-end.
Outlook and risk management
Looking ahead, EC Markets plans to invest further in technology, focusing on building proprietary trading-support tools and expanding its client base. The company also aims to meet the U.K. regulator’s new minimum capital requirement of £750,000 over a five-year transition period.
Risk disclosures confirmed the company’s matched-principal model, which eliminates proprietary market risk by offsetting all transactions against client orders. Nonetheless, management highlighted exposure to foreign-exchange mismatches, counterparty credit risk, and liquidity management as areas of continuous monitoring.
An independent auditor issued an unqualified opinion on the 2024 accounts, confirming no material uncertainties regarding going concern. With stronger earnings, higher equity, and improved liquidity, EC Markets enters 2025 in a more resilient financial position, ready to invest in growth, expand its client base, and adapt to evolving regulatory requirements.
The company recently announced the opening of a new office in Mexico, marking another milestone in its global expansion strategy.
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