Tickmill Ltd, a global provider of FX and CFD brokerage services, announced strong financial results for 2016, reporting an audited net profit of $6.27 million, which exceeded its 2015 profits by 118%. The company also disclosed its full trading volume for 2016, which came in at $473 billion.
Through Tickmill’s focus on a strong product offering and a client-centric approach, its net profit rose from $2.88 million in 2015 to $6.27 million in 2016, while its total trading revenue increased almost 3-fold, jumping from $5.55 million in 2015 to $15.85 million in 2016. The total trading volume in 2016 hit a record high of $473 billion, compared to $208 billion in 2015, easily surpassing its annual projection of $330 billion.
One of the top priorities of the year was obtaining the licence from the Financial Conduct Authority (FCA), with the company officially launching its UK brokerage services in November 2016. The management team is firmly committed to making the UK division a strong contributor to Tickmill’s long-term financial growth.
In a bid to diversify its reach and offer localised services to improve customer experience, the company has also expanded its presence in key Asian markets, while establishing a strong foothold in the MENA region and South America, where it expects to see good results in 2017.
“The strong financial results seen across the board in 2016 are mainly attributable to an increasing number of new clients in Tickmill’s target markets becoming aware of the high quality of services the company offers. Tickmill has become a globally preferred broker for smart algorithmic traders and institutional clients who value tight spreads, low commissions, ultra-fast execution and a trading environment where all strategies, including scalping and news trading, are allowed,” said CEO Mr Duncan Anderson.
In 2017, the company projects to reach a $600-650 billion full-year trading volume and to further expand its global reach both organically and inorganically. Organically, through the enhancement of awareness of the Tickmill brand in key markets, the establishment of a strong network of partners and Introducing Brokers that bring value to clients and through the launch of new products and services. Inorganically, by looking for opportunities to either acquire or build strategic relationships with other industry participants, who share the same values and business ethics.
About Tickmill
Tickmill is a global ECN broker, authorised and regulated by the FCA UK and the FSA SC. Tickmill offers trading services with a prime focus on CFDs on Forex, Stock Indices, Commodities and Precious Metals.
