Tickmill, an FCA-regulated ECN forex broker, reported a solid net profit of $6.27 million in 2016, up 118% from 2015’s 2.88 million. The total trading revenue also rose significantly – almost three-fold – and reached $15.85 million, from $5.55 million in 2015.
The total trading volume in 2016 stood at $473 billion, reaching a record level and surpassing the broker’s projections of $330 billion. In comparison, in 2015, the trading volume was $208 billion.
“The strong financial results seen across the board in 2016 are mainly attributable to an increasing number of new clients in Tickmill’s target markets becoming aware of the high quality of services the company offers”, said Tickmill’s CEO Duncan Anderson.
In its statement, the company noted that in 2016 it reached its main priority of obtaining an FCA license and launching the UK brokerage in November 2016. The broker has also expanded in key Asian markets and established a strong foothold in the MENA region and South America. “Tickmill has become a globally preferred broker for smart algorithmic traders and institutional clients who value tight spreads, low commissions, ultra-fast execution and a trading environment where all strategies, including scalping and news trading, are allowed”, Anderson said.
For 2017 Tickmill expects to reach a trading volume of $600-650 billion and to expand its global reach, both organically and inorganically, through enhancing the brand awareness in key markets and the establishment of a partnership network, the launch of new products and services and by looking to acquire other industry participants.
Tickmill, set up in 2014, is licensed by the Financial Services Authority (FSA) of the Seychelles and by the UK Financial Conduct Authority (FCA). It is an electronic communication network (ECN) and no-dealing desk (NDD) broker, which offers trading in diverse financial instruments, including currency pairs, CFDs, stocks, indices, commodities, and precious metals.
The broker is actively present in Asia, the Middle East and Africa. It has a live client base exceeding 20,000 clients and processes more than 3 million trades a month.