Gildencrest Capital Doubles Its 2023 CFDs Trading Volume

Goldcrest Capital Limited has announced that it saw significant growth in its business as of 2023. The company has extended its operations beyond Forex and CFDs.

In 2023, Gildencrest’s revenue surpassed £7.55 million, a 53 percent rise compared to the previous year, about £4.97 million. However, the company’s Net profit slightly reduced from £1.5 million last year to £0.8 million. An increased cost base caused the decline, according to the company.

Gildencrest Plans To Attract Professional Clients With A Venture Into Equities

According to a report in January 2024, TeraFX was rebranded as Gildencrest Capital. Its brand was also changed to Gildencrest Capital Limited. The forex and CFDS brokerage provider aims to expand into Equities. The move is set to attract professional clients and set its brand apart from Tera Yatirim, its Turkish parent company.

Gildencrest is a part of Tera Financial Holdings Limited. It is ultimately a unit of Tera Yatirim, an investment company in Turkey controlled by Oğuz Tezmen, a former politician and renowned businessman in Turkey. He and his son, Emre Tezmen, own over 80% of Gildencrest’s shares.

The company aims to offer more of its product and brokerage activities. It reported that with favorable conditions and a better global macro environment, the company’s 2023 strategy paid off. Gildencrest saw significant growth despite inflationary pressures surrounding its ecosystem.

Gildencrest’s equity volumes grew by a significant 83% in 2023. Furthermore, as it shifted from retail to offering its services to smaller institutional clients, its CFDs trade volumes increased, almost reaching $38 billion, double its previous value.

Gildencrest Plans To Launch New Incremental Products This Year

Gildencrest has announced its plan to continue serving Equity businesses. It aims to launch incremental products like Listed Turkish Futures as an addition to its 2024 offering. It is also checking out other avenues, like joint venues, to expand its revenue in CFDs.

However, Gildencrest revealed that it’s still determining if venturing into global markets will be a good idea. The company said it’s yet to be known if the sector could offer notable interest rates.

Global tensions keep increasing, and many economies focus on politics this year, making global markets uncertain. The company predicts general business activity will be dull in Q1 of 2024 due to the political tensions that remain challenging.

The total trade value in Gildencrest’s Forex/CFDs business grew to $37.6 billion in 2023, a 94% year-on-year rise. The firm saw a staggering £4.7 million in income from CFD trading offering. The trade volume in the Capital Market Securities Business also increased by 83%, with more than £1 billion in total trade value.