4T Markets Limited (Formerly Formax) Reports 67.1% YoY Increase in Turnover in FY22

Fazzaco learned that online FX and CFD broker 4T Markets Limited, formerly Formax Prime Capital (UK) Limited, has published its financial results for the year ended on 31 March 2022, revealing a jump in revenue and profit on a YoY basis.

More specifically, the FCA-regulated broker has registered a turnover of £119,044, up by 67.1% compared to FY2021's £71,236. Gross profit for the financial year came in at £56,472, showing a 311.6% yoy increase compared with last year's £13,720. Moreover, administrative expenses rose from the previous year's £230,590 to £327,379.

In addition, operating loss for the fiscal year stood at £270,907. This number for FY2021 was £216,860. Loss before tax came in at £271,466, compared to the prior year's £216,970.

According to the Companies House filing, the broker rebranded from Formax Prime Capital (UK) Limited to 4T Markets Limited in the previous financial year, and launched a new website during Q1 2022. In addition to direct client trading, the frmhas signed agreements with 2 brokerage companies who utlise the firm's trading technology as White Label clients, creating a monthlyrevenue stream. Moreover, the company's 100% stake was transfered to its new owner, Regalis Trading Solutions Limited at the end of May 2021.