Trade Capital UK (TCUK) Ltd, the operator of the Trade.com brand in the UK, reported a yearly increase of over 216% in its annual revenue in 2022, closing with £759,240. It’s consistent with the company’s growth trend, having generated £240,009 in 2021, more than double its revenue from the previous year.
Last year, the company that handles forex and contracts for differences (CFDs) made a profit of £140,694, a significant improvement from the previous year’s loss of £71,861. Additionally, the company’s pre-tax profits increased to £186,951, recovering from the previous year’s losses of £99,868.
FCA authorized the company in 2020/21; at that time, its operations were in the initial stages. However, in 2022, their revenue increased by 216%, and their net profit increased by 295% compared to the net loss in 2021. However, more comparative figures and performance details will be available in subsequent years, as stated in the Companies House filing of the firm.
The company from the United Kingdom was established in 2017 and was authorized by the FCA in September 2019. It began its activities in the middle of October 2019.
Improved Operations
Last year, the company made a gross profit of £508,806. It was after subtracting direct expenses of £250,434 from the total revenue. There were no earnings from other sources in the previous year, but ‘other operating income’ brought in £60,812 in 2021. Even though revenue increased, the company reduced its administrative costs from £408,100 to £354,237.
In 2022, TCUK’s operating profit was £154,569, significantly improving from the previous year’s loss of £127,529. Moreover, the net finance income rose to £32,382 from £27,661.
Trade.com is a multinational brand with operations across the globe, including offices in Europe and regulatory licenses in Cyprus, Dubai, South Africa, and Mauritius. Additionally, it has obtained a FINRA license to operate in the United States.
