FNG Exclusive… FNG has learned via regulatory filings that London based, FCA regulated multi-asset liquidity solutions provider BidX Markets has grown its business profitably in its first full year of operations. The company posted Revenues of £296,707 and Net Profit of £43,829 in the 12 month period ended May 31, 2022.

The principal activity of the company is that of provision of investment (brokerage) services and acting as principal to its (mainly institutional and brokerage) clients in foreign exchange and derivatives including index Contracts For Difference (CFDs). The company noted that its business has developed in line with the Board’s expectations, however the business is still in its “early growth stage.”

The company said it continues to look for organic and inorganic opportunities both in the UK and overseas for expansion. The directors expect that the company will continue to grow its business both in its core market and in new markets, and this will lead to a continued improvement in the company’s financial results.

The past few months have seen BidX go on something of a hiring spree, with the company filling a number of key roles. New hires have included Harry Fry (ex Invast) to head APAC, Shaun French as multi-asset research analyst, James Roddy as Head of Institutional Sales, and Arun Lakhani (ex Equiti Capital) as Operations Manager.

About BidX Markets

BidX Markets was founded in 2021 by Simon Blackledge, who had previously run MT4/MT5 white label solutions provider itexsys. The London headquartered brokerage provides tailored access for brokers, asset managers and funds to industry leading Tier 1 liquidity, connectivity, and distribution services. Last year the company received an investment from and entered into a strategic partnership with non-bank market maker Solid, which now owns 9.9% of the company. BidX stated that the relationship with Solid reinforces the company’s strategy to access best liquidity pools and enable future expansion into continental Europe, through strong strategic partnerships.

BidX Markets’ 2022 income statement and balance sheet follow below.