Valutrades Limited, a United Kingdom-based forex and CFDs provider, has ended 2020 with excellent revenue and profits, according to the company’s latest filing with Companies House.
The annual revenue of the broker for the financial year ending on December 31, 2020, came in at more than £3.99 million, which is 21 percent higher than the previous year’s £3.29 million. The gross profit of the company surged 32 percent in the year, reaching £3.17 million.
But, the most highlighted metrics remained the operating profits of the broker, which jumped 1,052 percent in the period, from a loss of £90,867 in 2019 to a gain of £865,155 last year. Additionally, the broker reported that the retail clients’ fund held by it also increased in 2020 by 45 percent to £2.57 million.
Similar to other European brokers, Valutrades’ business was impacted by the ESMA restrictions, but the broker has shown a healthy gain in revenue since 2019.
An Optimistic Outlook
Valutraders’ latest numbers followed the industry-wide trend when the brokers witnessed an influx of retail traders towards the markets. The broker is now optimistic about its performance for 2021.
“2021 looks set to be another good year for Valutrades with the same market trends – Covid-19, US political leadership change and Brexit reaction, causing increased volatility in the financial markets. This has a net positive effect on client volumes and commission incomes,” the broker noted in the filing.
Elaborating on its long-term strategy, the broker stated that it will continue to invest in technology, staff and business relationships that will expectedly increase its profitability. Furthermore, it received shareholders’ approvals to reinvest the profits in business growth.