The UK forex broker FxPro has turned a profit of £1.12 million in 2015, shows the full accounts report filed with UK’s Companies House on September 27. In comparison, in 2014 FxPro had a net loss of £63 537.
According to the document, drawn up this March, which reflects data as of December 31, 2015, the total revenue of FxPro was nearly £2 million, while the total assets amounted to £2.02 million. As a result of the profits of the year, the net assets rose £1.5 million. Cash and cash equivalents also increased to £1.97 million.
FxPro’s key performance indicators (KPI) monitored by the management are the trading volume and profitability. According to the company filing, in 2015 FxPro saw a trading volume of USD 63.5 billion, up from 2014’s USD 22.8 billion. This is mainly due to the rapid increase of client numbers, along with a rise in trading activity because of greater market volatility in 2015.
The increase of trading volumes was the main driver of the 219% rise in the revenue on an annual basis. At the same time, the expenses of FxPro rose just 15%, mostly because of increasing staff and commissions paid to introducing brokers, while the other costs remained unchanged, compared to 2014.
Among the main risks for FxPro, outlined in the report are financial uncertainties, operational and systems failures, compliance, litigation and reputation risks.
FxPro is an online broker, regulated by by Cyprus’ Securities and Exchange Commission (CySEC) and UK’s Financial Conduct Authority (FCA). It offers complete services for all segments of the retail forex market, as well as trading with futures, indices, metals, shares, and contracts for difference (CFDs). It uses the trading platforms MetaTrader4, MetaTrader5, cTrader and its proprietary platform for social trading SuperTrader.