Gildencrest Capital (Formerly TeraFX) Sees Turnover Jump 52% in 2023

Gildencrest Capital Ltd, London based regulated retail FX and CFD broker, has delivered a robust year in 2023, with its turnover and trading volumes significantly increasing during this period. This developemnt was contributed by expanded product offering and brokerage activities.

The broker has rebranded from TeraFX​ in February 2024, marking the expansion of its operations beyond FX and CFDs.

Revenues at Gildencrest Capital in 2023 soared 52% to £7.55 million, with gross prfit up from £2.95 million in 2022 to £3.28 million. Proft for the financial year, however, declined from £1.5 million to £0.8 million. This is because administrative expenses grew from 2022's £1.63 million to £2.35 million.

The trading volume in Gildencrest's Forex/CFDs business surged 94% to $37.6 billion, with CFD trading services generating £4.7 million income. Capital Market Securities Business volume went up 83% to £1 billion. Equity trading volume also increased 83%, producing income of £2.13 million in the year.

At 2023 end, Gildencrest Capital held net assets of £3.14 million, compared to £2.66 million in 2022.

In 2024, Gildencrest Capital is looking to open a branch office in Riga to serve EU clients.