ThinkMarkets UK Reports Revenue Dip and Minor Loss Despite Increased Client Activity in 2024

TF Global Markets (UK) Limited, the UK arm of Retail FX and CFDs broker ThinkMarkets, has released its financial results for the year 2024, revealing a decrease in both activity and revenue, culminating in a small net loss.

The company reported revenues of £1.80 million in 2024, a 26% decrease compared to the £2.43 million generated in 2023. This decline in revenue resulted in a net loss of £9.7K for the year, a shift from the £83K profit recorded in the previous year. Additionally, client money held by ThinkMarkets UK saw a 30% reduction, falling from £2.57 million at the end of 2023 to £1.80 million in 2024.

Despite these financial downturns, ThinkMarkets UK stated that it "performed strongly across all key measures in 2024 due to increased business volumes due to industry conditions, general economic uncertainty, and global financial markets, supported by a continued focus on attracting and retaining high-value customers."

The report also highlighted a 12% increase in active clients during 2024, a positive contrast to the 10% decrease experienced in 2023. The company attributed this growth to ongoing investment in its "multifaceted marketing approach, which included advanced marketing technology and several strategic initiatives and advertising campaigns."

Furthermore, the number of clients making first-time deposits grew by 46% in 2024, although this was lower than the 89% increase seen in 2023. The company commented that this still "demonstrates a healthy growth and continued confidence with clients in its operations and services offered to clients." ThinkMarkets UK, controlled by brothers Faizan and Nauman Anees, who hold the positions of President and CEO respectively, continues to focus on attracting high net worth clients in key markets through its proprietary trading platforms.