TF Global Markets (UK) Limited, the FCA regulated UK arm of Retail FX and CFDs broker ThinkMarkets, has reported its financial results for 2024 indicating a decline in activity and revenue, leading to a small net loss for the year.
ThinkMarkets UK brought in £1.80 million in Revenues in 2024, down 26% from £2.43 million in 2023. The company posted a £9.7K net loss in 2024, versus an £83K profit the previous year.
Client money at ThinkMarkets UK declined by 30% from £2.57 million as at year-end 2023, to £1.80 million in 2024.
Despite the aforementioned declines, ThinkMarkets UK said that the Company performed strongly across all key measures in 2024 due to increased business volumes due to industry conditions, general economic uncertainty, and global financial markets, supported by a continued focus on attracting and retaining high-value customers.
Active Clients at ThinkMarkets UK increased by 12% during 2024, compared to a 10% decrease in 2023. This was supported by continued investment in the group’s multifaceted marketing approach, which included advanced marketing technology and several strategic initiatives and advertising campaigns.
The number of clients with first time deposits grew by 46% in 2024 compared to a 2023 increase of 89%. Despite the lower growth in 2024 compared to the increase in 2023, the company said that this demonstrates a healthy growth and continued confidence with clients in its operations and services offered to clients. The company continues to invest in strategic markets to attract high net worth clients in tier one markets offering a broad range of products on its intuitive proprietary trading platforms.
ThinkMarkets is controlled by brothers Faizan and Nauman Anees. Faizan and Nauman act as President and CEO of ThinkMarkets, respectively.
ThinkMarkets UK’s 2024 income statement and balance sheet follow below.
