Following a successful 2022, Trade Capital UK (TCUK) Ltd, the UK based company which operates the TRADE.com Retail FX and CFDs brand, has released its financials for 2023 indicating continued growth on both the top and bottom line.
TCUK posted Revenues of £892K in 2023, up by 18% from £759K in 2022. The company earned a net profit of £218K in 2023, versus £141K the previous year.
Trade Capital UK (TCUK) Ltd provides investment services for Contracts for Difference (“CFDs”) and Spread bets, executing clients’ orders on a matched principal basis (no portfolio management or investment advice services). The Company is acting as a provider of regulated products and services under its registered trade name TRADE.com and websites www.trade.com and www.tradecapitaluk.com.
The Company’s Key Performance Indicators (“KPIs”), which management uses to assess and monitor the business and its performance, are comprised mainly of new accounts opened, volumes traded, and overall profitability. In 2020/21 the Company’s operations were at the initial stages following the authorisation granted by FCA for Variation of Permission (“VoP”) to hold clients’ funds and act as a matched principal broker under an IFPRU 125K license; however, currently operating under the MIFIDPRU TP 2 temporary transitional provisions with an alternative capital requirement of GBP 190,000 for the year 2024. While the 2023 revenues recorded a 18% increase and the net profit was increased by 55% compared to the net profit of 2022, more accurate comparative figure and performance figures will become available in subsequent years.
The Company was incorporated on 4 September 2014 and received its FCA license on 17 January 2017.
Trade Capital UK currently acts as an investment firm, which provides execution-only services for financial contracts for differences (“CFDs”), spread betting instruments (“SBs”), executing clients’ orders on a matched principal basis (no portfolio management or investment advisory services). It also offers market access to non-margined stocks, options, futures, futures options, spot forex, bonds, and funds, acting as an introducing broker to Interactive Brokers UK Ltd.
The financial instruments of CFDs and SBs are offered to the Firm’s clients via electronic platforms through its websites cfd.trade.com and sb.trade.com, offering the ability to choose and place orders on CFD and Spread Betting instruments, after a client considers the degree of financial risk to be undertaken, the time span that the client would like such instruments to be traded, the option to buy or sell such products, and the return or loss that the client is aiming to achieve or willing to undertake.
The quoted prices offered through the CFD and Spread Betting trading platforms are supplied by Finalto Financial Services Ltd (regulated and authorised by the FCA, FRN 607305).
Trade Capital UK was granted FCA approval for Variation of its Permission (“VoP”) at the end of September 2019 and effectively launched its operations based on its extended permission in mid-October 2019. After successfully completing a full year of operation since the FCA approval of the Variation of its Permission, the Firm was granted FCA authorisation for onboarding Appointed Representatives (“ARs”) in the fourth quarter of 2020 and has carefully considered a number of potential AR candidates, however it has not entered into any such relationships to-date.
The Firm’s operations, client base continued to grow satisfactorily during 2023, focusing on affluent UK-based clients wishing to establish trading accounts. Revenues increased to GBP£892,377, up by 18% from the previous year. The Firm recorded a net profit of GBP£218,325, a significant boost from the previous year’s recorded net profit of GBP£140,694. Furthermore, the Firm’s senior management expects that its operations and revenues will continue to grow at a similar pace during 2024.
The TRADE.com brand and Trade Capital UK (TCUK) Ltd is controlled by Mark Lauterstein.
Trade Capital UK’s 2023 income statement and balance sheet follow.
