Finotec Trading Reports a 31% decline in revenues in 2019

​FX Prime Brokerage, Finotec Trading UK Limited (FTUK) has posted its annual financials for the year ended December 31, 2019, showing mixed performances across various metrics.

The company posted revenues of £1.12 million in 2019, versus £1.63 million the previous year.

Despite the decrease, Finotec had a small net profit of £60,000 in 2019, down from £70,000 in 2018.

The declined revenue from the business resulted in a pre-tax income of £59,774, compared to the previous year’s £107,656.

On the positive side, it cleared around 16 million transactions in the period, which was a 66 percent increase on the previous year. Additionally, it detailed that the demand for its products is increasing and more investors are participating in its asset management program.

The company stated:“Our aim is to turn the focus of the company from a purely brokerage institute to offer investment services as well. Yedidya Capital Markets Limited (“YCM”), an Israeli research company with a long standing history developing technologies and risk management systems for the FX Industry, developed an exclusive trading algorithm and, in 2015, signed a distribution agreement with FTUK to offer this unique trading program to FTUK’s clients; as well as to introduce YCM’s client portfolio to FTUK’s brokerage services.”

In addition, Finotec highlighted the 36 percent annual return of its managed investment program over the past five years, which has a minimum entry barrier of $100,000.

“The system monitors the performance of over 100,000 traders, whilst recording over 700,000 trades to acquire a deep understanding of trading patterns, strategies and risk management,” the broker explained.

Finotec is now targeting to reach $20 billion in deposits by the end of 2020 and is additionally exploring a corporate transaction with Yedidya Capital to integrate two companies’ revenues generated from management and performance fees.