One Global Market triples FY 2023 revenues, marking a transformative year with new leadership and a strategic vision for continued success in 2024.
Forex broker One Global Market releases a threefold increase in revenue for the fiscal year 2023. An increase in revenue and sales costs at £123,677 and huge administrative expenses, £520,304, led to the gross profit growing by 212%, reaching £668,1114.
Pre-tax and net profits were notable at £147,813, reflecting an outstanding rise of over 350 percent per annum, as indicated in the latest filing with Companies House.
Based on their financial performance, this broker, with superb customer service, remarked that 2023 was a very profitable year for them, which allowed them to create good grounds for further activities and have enough money to invest in the initiative's growth.
This FCA-regulated broker specializes in offering online forex and CFDs across several asset classes to retail as well as professional clients. It generates revenues from spread markups, commissions, and swap premiums using an agency brokerage model where the revenue directly reflects its clients' trading volumes.
Forex broker One Global Market commits to growth and compliance, especially in the consumer duty, but with a view of planning for future challenges that will open up financial opportunities by 2024, ensuring its success this upcoming year.
In other forex broker news, another London-based broker, 4T Markets, reveals robust revenue growth in 2023, reaching £235K. Despite the increased net loss, the entity shows a positive financial trajectory.