ThinkMarkets, a forex brokerage licensed in Australia and the UK, formerly known as ThinkForex, reported that its UK subsidiary has tripled its turnover in 2016, but the profit has dropped somewhat.
According to the audited company report of TF Global Markets UK filed with UK’s Companies House registry, its 2016 turnover and gross profit stood at a little over GBP 3.8 million and its profit was GBP 125 639. In comparison, in 2015 the broker’s turnover amounted to nearly GBP 1.25 million and the profit was GBP 136 447.
The report shows that ThinkMarkets’ administrative expenses grew along with the turnover and in 2016 stood at nearly GBP 3.7 million, while in 2015 they were GBP 1.1 million.
ThinkMarkets is a trading name of TF Global Markets (UK) Ltd., regulated by the UK Financial Conduct Authority (FCA), and TF Global Markets (Aust) Pty Ltd., licensed by the Australian Securities and Investments Commission (ASIC). The broker has offices in Australia, where it originated from, the UK, Australia, Chile, and the UAE.
Last year it rebranded itself from ThinkForex and launched its proprietary trading platform ThinkTrader.
The broker offers trading in forex, CFDs, energies and precious metals. Besides ThinkTrader, ThinkMarkets provides trading on the MetaTrader 4 (MT4) platform. The maximum leverage is 1:400 and the minimum operating balance (for Standard accounts) is 250. The broker offers individual, joint and corporate trading accounts.
For a detailed review of ThinkMarkets, please follow this link.