BidFX Reports Operating Profit of £1.8 Million in H1 2020
Fazzaco has learned that BidFX, a leading cloud-based provider of electronic forex trading solutions for institutions, has released the company's half-yearly financial results for the first six months of 2020, revealing a pre-tax operating profit of £1.8 million for the period.
The revenue of the the UK-registered company for the six months soared significantly to £9.6 million from 2019's revenue of £10.9 million. That was a significant jump. The net asset of the company rose in the period to £20.4 million, compared to the previous year's £18.2 million.
"The strong revenue performance was driven from the successful client acquisition strategy with over 100 of the world's largest banks, hedge funds, and asset managers currently connected to its platform," BidFX noted.
As Fazzaco reported earlier this month, BidFX launched data and analytics suite to arm its clients with tools to give them a comprehensive view of the pricing, market impact and liquidity for every transaction.
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