The London-based subsidiary of Aussie FX brand Axi, AxiCorp Limited, has had its financials for the fiscal year 2021 published. The company saw a solid jump in key metrics that were generated within United Kingdom business lines during this period and it looks like they are on their way to becoming one of Europe’s top online trading sites!
A 130% increase in turnover to £10.8 million is an indication that more people are seeing the value of their services and are able to provide them at competitive prices while still maintaining high-quality service levels! it’s no wonder that the UK is currently one of the top markets for brokers.
The broker’s operating profit skyrocketed by 347% in the fiscal year 2020, bringing their total revenue to nearly £2 million. In order for them not only to meet but exceed expectations this time around; they will be looking at costs and expenses closely before turning over any profits again!
The total comprehensive income of the broker for this past fiscal year was nearly £1.9 million, an increase from their previous earnings that came in at only just over 259 thousand pounds.
The broker’s success is clear to see in their latest financial filing, which shows that client revenue has increased by over £7 million (from £11.8 million to £17.2 million) since last year. The sharp rise can be primarily attributed to the company’s recent successes with investors and clients alike.
Woe Unto the UK Operations
When you think of companies that are truly ‘family-owned’, Axi is one. The UK operations were started in 2014 as a subsidiary for “support services to the ultimate parent company.” But these numbers only reflect the UK operations of Axi’s company. This means that it is possible to have done much better in other countries, like America for example where they represent a large percentage.
“The principal activity of the company during the financial year was the provision of services for direct market access trading of contracts for difference and other financial instruments,” said the UK Filing.
Axi has seen its product line expand to meet the growing client demands. It has already launched copy trading services and increased offerings of share CFDs this year, in order for it can continue offering new financial products that fit any need a trader might have.