ATC Brokers UK Ends The Fiscal Year 2024 With Double Revenue

UK-based ATC Brokers has doubled its revenue for the fiscal year 2024 (FY24) ending April 30.  According to the company’s financial records, it generated a significant gross profit and higher turnover compared to the figures the previous year. The higher turnover enabled the company to regain profitability.

The financial report published by ATC Brokers at Companies House noted that the company hit a turnover of £5.6 million FY24, which is almost twice more than the £2.1 million recorded the previous year.

ATC Brokers Recorded A Gross Profit of £3 Million

ATC Brokers revealed that its sales cost increased to 2.6 million, but it did not stop it from recording a gross profit of nearly £3 million. The figure represents a 100% surge in profit compared to the figures in fiscal year 2023. However, its operating profit was £1 million, while its net profit stood at £799,000 compared to the previous year’s loss of £47,600.

The firm also revealed that its net asset surged significantly from £1.6 million in FY23 to £2.4 million at the end of the fiscal year.

ATC has operating license in the UK. The firm also holds operating license from the Cayman Islands, which it got nearly six years ago. The firm also offers FX/CFD services outside the UK, but has been more visible since Brexit.

ATC has also had some legal tussles in the past, with the most recent coming earlier this year. It was involved in a case called Oasis, an alleged $78 million Ponzi scheme. The receiver of Oasis International Group, Burton Wiand, sued ATC Brokers and its co-founder, David Manoukian.

According to Wiand, the accused were involved in fraudulent activities. However, the case didn’t see the light of the day as the district court dismissed Wiand’s claim due to lack of substantial evidence.

Trade Nation Registers £2.2 Million Financial Loss

Apart from ATC Brokers, other firms in the brokerage industry have also published their financial results for the fiscal year. Trade Capital UK Ltd recently announced the financial results of TRADE.com. The firm noted that it realized a profit of £220,000 in 2023, showing an increase of nearly 60% from the previous year.

While TRADE.com and ATC Brokers registered a successful 2023, the same cannot be said about other brokerage firms in the industry. CFD and trade betting provider, Trade Nation, registered a lower turnover for its business in the UK. According to the firm’s financial reports, it saw a financial loss of £2.2 million.