FNG Exclusive… FNG has learned that FCA regulated FX and CFDs broker Valutrades has seen an increase in activity for the third year in a row, with Revenues climbing by 47% to £6.5 million in 2022, up from £4.4 million in 2022.
Valutrades also turned a tidy profit of £735K, versus a £472K loss the prior year.
However retail client funds held at Valutrades fell by 26%, from £4.5 million as at year-end 2021 to £3.4 million in 2022.
Regarding outlook, Valutrades management said that 2022 was a good year for the company with a modest profit achieved on top of continued growth in customer numbers and transactional volume.
Whilst the effects of Covid and Ukraine war on volatility may have been reduced, concerns on high inflation and increasing interest rates assisted in continuing to provide volatility in financial markets. This resulted in an increase in the firm’s income from transactional volume. Valutrades…
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