Alpha FX H1 Revenue Jumps 35% on a Yearly Basis

Alpha FX, a UK-listed foreign Exchange (FX) broker, has published a trading update for the six-month period ended 30 June 2022, reporting a 35 percent rise in its revenue year-over-year.

Specifically, the broker's revenue for the period came in at £46 million, which is up from £34 million generated in the time span a year before. The FX Risk Management revenues increased by over 30% against H1 2021 to £32 million, while the Alternative Banking revenues increased over 40% against H1 2021 to £14 million.

In addition, Alpha FX elaborated that it has strengthened its client numbers of FX Management division to 975 at 30 June 2022 after closing 2020 with 881 clients. For alternative investment sector, the number of live accounts invoiced grew to 3,061 by 30 June 2022.

Morgan Tillbrook, Chief Executive Officer of Alpha FX said:"I'm pleased to report on a strong period of trading for the Group, with strong growth across both our divisions. Following the decentralisation of our divisions, we have never been more confident in their significant standalone potential. The enhanced focus is enabling each division to better direct their resources toward their distinct strategic priorities, in turn, creating more value for all their stakeholders, and positioning them to build a new era of innovation and growth."