Equiti Capital UK Limited, the FCA regulated institutional/B2B arm of UAE based global FX and CFDs brokerage Equiti Group, continued on its growth path in 2023, posting a 2% increase in Revenue, although the company saw a slight decline in profitability.
Revenues for 2023 at Equiti Capital came in at $31.0 million, as noted up by 2% from $30.5 million the previous year, primarily attributable to increased transaction volumes experienced by the wider Equiti Group. Net profit totaled $1.1 million, down from $1.6 million in 202, due to a slight increase in operating costs during the year.
The Company balance sheet remains in a strong position, with net assets of $39 million.
Equiti Capital noted that a recent investment in a Digital Marketing team has helped drive growth of the wider Group. This has led to increased customer numbers and transaction volumes during the year. Due to the Company’s position in the Group structure, it has benefitted from this increased transaction volume, resulting in a 34% increase in commission revenue. This has reduced the Company’s reliance on revenue generated from providing intragroup services, which previously accounted for a significant portion of the Company’s revenue.
The Company continues to invest in product development and platform improvements to ensure high levels of customer satisfaction and retention. During the year the Company added 1,500 new stocks and ETF CFDs to its trading platform, providing customers with trading opportunities in trending industries such as artificial intelligence, robotics and renewable energy stocks.
Equiti Capital’s principal activity is to provide execution-only brokerage services for professional and institutional customers to trade CFDs in spot forex, metals, indices, and commodities. The Company also provides risk management and other services to the overall Equiti Group.
During the year Equiti Capital named Liam Conway as its new CEO.
Equiti Capital’s 2023 income statement and balance sheet follow below.
