The UK subsidiary of ThinkMarkets, TF Global Markets UK has posted the company’s full-year results for last year. The annual report, filed with the UK Companies House, reveals no material change in the company’s revenues.
When compared to 2016, last year’s revenues were more or less flat at £3.78 million ($4.94 million). Operating profits for the brokerage have increased by 51 percent to £189,278 ($247,539).
The profit increase is down to optimization in administrative expenses. Those declined when compared to the previous year by £100,000 ($130,781).
ThinkMarkets has been operating via multiple subsidiaries across the globe. Aside from an ASIC-regulated firm in Australia, the brokerage also has a Bermuda-registered entity and an operations base in Bulgaria.
Back in 2017, the company has purchased mobile app provider Trade Interceptor. The firm acquired the assets of the firm and has been refocusing its strategy with a mobile-centric approach.
The firm has successfully integrated and launched the app, securing a proprietary mobile offering. In this day and age, this has proven to be a driving force for a number of brokerages. Companies like Plus500 and Trading 212 have proven that a good mobile offering stands at the core of a consumer-friendly product.
Not only that but it is a great tool for onboarding new clients to the platform.
According to the latest stats for mobile-oriented brokers, close to 70 percent of trading volumes have been executed via mobile apps. Such figures contrast to generic offerings in this space where brokers are using white label solutions.
ThinkMarkets has recently become the latest brokerage to venture into sports sponsorships. The company signed a deal with famous boxer Amir Khan. He rose to fame after winning a silver medal in the 2004 Olympics and will be working with the broker to help less fortunate kids get jobs in London.
According to a statement issued by the ThinkMarkets team earlier this month, the partnership with Khan is aimed at helping 100 young people get jobs in London’s financial district by 2022.