Forex and CFDs Broker Acetop Reports £519K Loss in 2020

Acetop Financial Limited​, a forex and CFDs brokerage firm​ authorised and regulated by the Financial Conduct Authority (FCA), has disclosed its yearly financials for the financial year 2020. The platform has closed out the year at a loss as a result of a massive dent in its yearly revenue.

As detailed in the Companies House filing, the revenue and other incomes of the London-based broker came in at only £713,000 in 2020. When measuring this against 2019 where revenue and income were $1.9 million, Acetop's revenue and income dropped by more than 62 percent.

According to the filing, the total notional trading volume​ on Acetop reached $5.1 billion in 2020, which mostly came from its spot gold, FX and indices offerings.

For the year, Acetop saw a net loss of about £519,000, as opposed to the profitable 2019, where its net income stood at nearly £100,000. Additionally, the total asset of the brokerage came in at only £3.4 million, with a net of £1.7 million. In the previous year, this figure was £4 million.