Multi-asset brokerage ActivTrades has reported its full-year financials for 2017, which showed a healthy uptick in revenues although its net profit dropped relative to last year, according to a filing with the UK Companies House.
The latest company report casts light on ActivTrades’ overall metrics and volumes, both of which appeared to have been helped by higher market volatility in the FX market. As such, ActivTrades disclosed a 2017 FX revenue figure of $55 million (£40.45 million), up 15 percent YoY from $47.3 million (£34.9 million) in the year prior.
However, this growth was tempered by an additional rise in administrative expenses at the broker, which in 2017 climbed to $30.8 million (£22.7 million), up 47 percent over a yearly basis when compared with just $20.9 million (£15.4 million) in 2016. A large component of this increase in expenses was pegged to ActivTrades’ rising workforce in 2017, including marketing costs, IT, and investments.
ActivTrades maintained profitability in 2017, after reporting a figure of $15.7 million (£11.6 million) after tax, but the bottom line figure was down -9.3 percent year-over-year from $17.3 million (£12.8 million) in the year prior.
Another boost for the broker was captured across its increase in trading volumes which rose 20 percent year-over-year. ActivTrades identified over 70,450 potential new clients in 2017, of which 7,330 became customers with funded accounts.
Finally, the manifest showed that ActivTrades witnessed a slight increase in deposits last year, coming in at $62 million (£45.7 million) during 2017, compared to .
The FCA-regulated broker operates three branches of the business outside the UK, in Italy, Bulgaria, and in Dubai. The branch in Sofia, established in 2012, handles all the technical aspects of ActivTrades business, as well as the responsibility for risk control, and some client services.
ActivTrades has recently embarked on a number of initiatives for its clients. Finance Magnates reported on ActivTrades back in December when the FCA-regulated firm , including Bitcoin, Litecoin, and Ethereum. The company is offering the new crypto CFDs via its proprietary trading platform ActivTrader, MetaTrader 4 and 5 on desktop, tablet, and mobile.
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