Offshore forex broker Tickmill sees 2016 trading volume at $330 billion

Offshore forex broker Tickmill sees 2016 trading volume at $330 billion

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Offshore forex broker Tickmill said on Wednesday it expects a trading volume of $330 billion in 2016, following its most successful quarter in Q1 2016, , the broker said, without providing figures. This make on average about $27.5 million per month. It has said its trading volume in March reached a monthly record-high of $32 million, after posting a volume of $22 million in February.

Tickmill also reported it generated a net profit of $2.88 million in 2015, its first full year of operation. No data was provided regarding revenue, but the brokerage said it expects higher results in 2016.

In comparison, the trading volume of Japan’s GMO Click Securities, the world leader among retail forex brokers, wasJPY 103.3 trillion, equal to some $951 billion in April, down from JPY 108.85 trillion in March, or about $1.0 trillion.

“Looking ahead in 2016, there will be greater volatility due to the political situations and elections in the UK, USA and Australia,” Tickmill CEO Sudhanshu Agarwal said. “This combined with Tickmill’s plan to expand our geographical and regulatory footprint will generate great revenues for the business. This is yet another milestone for the company to ensure we remain the clients’ preferred broker in terms of trading services quality and an excellent customer experience,” he added.

Tickmill was set up in 2014 as an electronic communication network (ECN) no-dealing desk (NDD) broker of forex, contracts for difference (CFDs), sotcks, indices, commodities, and precious metals. It holds a license by the Financial Services Authority (FSA) of the Seychelles, which is known as an offshore forex destination. It also partners with forex rebates website PayBackFX.

The brokerage house partners with introducing brokers (IB) and offers Multi Account Manager (MAM) and white label partnership programs. It claims to have more than 10,000 active live traders, both retail and institutional.

Source: Tickmill

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