FX broker Tickmill posts 1H 2020 revenue of $54 million

Source: FNG Gerald Segal 2020-08-27

Retail FX and CFDs broker Tickmill has posted its results for 2019 as well as for the first half of 2020, indicating that the company continued on its growth trajectory from 2018-2019, even when many of its competitors saw declines in activity.

Tickmill reported that revenue for the first six months of 2020 came in at $54.3 million, which was 79% of what Tickmill brought in during all of 2019, at $68.6 million. And that was a 52% increase over 2018, at $45.1 million.

Net profit (pretax) of $35.4 million in 1H-2020 was almost equal to that of all of 2019 ($37.7 million).

Tickmill said it averaged about $132 billion in average monthly trading volume in the first six months of 2020. Volumes averaged $123 billion monthly in 2019. The company notes that about 70% of the trades that pass through Tickmill’s trading servers are initiated by trading algorithms and expert advisors (EAs).

Commenting on the results, Mukid Chowdhury, Group CFO of Tickmill, said:

“The progress made by Tickmill Group in 2019 demonstrates the continued improvements achieved across all areas of the business, from our marketing and branding initiatives through to a focus on first-class customer service and the innovations introduced on our technology and products. Despite some challenging trading conditions during 2019, these improvements have allowed Tickmill to continue to attract new clients and further expand its operations”.

“We remain committed in continuing the investment towards the development of our people, products, and services, and to provide our clients with the service they expect in order to ensure that Tickmill is their provider of choice for their trading needs. This is an integral part of our strategy to achieve sustained growth”.

Illimar Mattus

Tickmill was founded in 2014 and is still controlled and run by Estonian twin brothers Ingmar and Illimar Mattus. The group holds financial services licenses in the UK (FCA), Cyprus (CySEC), South Africa (FSCA) and operates an offshore entity in Seychelles.

Marking the company’s recent six year anniversary, co-founder Illimar Mattus posted the following to social media a couple weeks back:

Our company turned 6 years today. It has been a great journey from a small startup to a group of companies with 200-strong global team. Today our humble celebrations started from offices in Australia and traveled through many countries including Malaysia, South Africa, Estonia, Cyprus, UK and ended in South America. Serving tens of thousands of FX traders, most of whom being extremely demanding algorithmic traders, has been quite a daunting task. Our story is only possible thanks to our great team, loyal clients and supportive partners. #teamwork

Tickmill 2019 and 2018 number comparisons follow:

	2019	2018	% change
Net Trading Revenue	$68.6m	$45.1m	+ 52.1%
Net Profit	$37.7m	$19.7m	+ 91.4%
Owners’ Equity	$72.7m	$40.7m	+ 78.6%
Trading Volumes	$1.485bn	$1.368bn	+ 8.6%
Trades Executed	89.40m	83.56m	+ 7.0%

Tickmill forex

FX broker Tickmill posts 1H 2020 revenue of $54 million

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