KVB Prime UK Reports FY22 Financial Results, Rebrands to DCFX Europe

DCFX Europe, a UK-based broker focused on spot and CFD trading and rebranded from KVB Prime UK, has unveiled its annual financial metrics for the fiscal year ended 31 March 2022 (FY22).

According to the Companies House filing, the broker's turnover declined 39 percent on a yearly basis to £106,205. Besides, it completed with the financial year with an operating loss of £508,626, compared to the figure of the prior year at £659,958. The company also reduced administrative expenses to £554,064 from £659,958 in FY21.

"For the past year and a half, like most of the long-standing companies, many businesses went into survival mode - cutting costs, laying off workers, and doing whatever it took to keep the doors open or stay in a position to reopen later. Now, the company is ready, well-funded, and innovative enough for the Post-pandemic Era," the Companies House filing noted.

Looking ahead, DCFX Europe is set to concentrate on acquire "higher quality retail clients," and is considering a new liquidity provider to cement its offerings.

Moreover, the company plans to launch a new Forex and CFD trading platform for both retail and professional traders.