FNG Exclusive… Blackwell Global Investments (UK) Limited, the FCA licensed arm of Retail FX and CFDs broker Blackwell Global, has made regulatory filings indicating that the company saw a (further) decline in activity during fiscal 2022. Blackwell Global has a March 31 financial year-end.

For the 12 months ended March 31, 2022, Blackwell Global UK saw Revenues drop by 50%, to £454,308, versus £904,381 in 2021. As recently as 2020 Blackwell Global UK was doing more than £5 million in annual revenues, making its current level a 90%+ drop in just the past two years. The company posted a loss of £1.2 million in FY2022, versus a loss of £894,864 in 2021.

During FY2022 the company saw the resignation of its longtime COO, Alexandros Kritiotis. Mr. Kritiotis is now running a startup investment app called StocksTech.

Client assets held by Blackwell Global UK declined during FY2022, £1.1 million versus £1.5 million in 2021.

The directors stated that the company is in a good position to progress into the next financial year, despite it being a “challenging year for trading”. They added that the wider cost of regulation and compliance related to the company’s registration with the FCA means that the directors will continue to seek operation efficiency to offset such costs, as well as implementing new strategies and business lines more in keeping with the regulatory environment in the UK.

Founded in 2012, Blackwell Global is a Retail FX and CFDs broker controlled by Taiwanese investor Chai Kaw-Sing. The company has its roots in New Zealand, and remains managed from a number of locations including London, Singapore, Taiwan, China and Cyprus, with CEO Patrick Latchford based in the UK. Alongside the company’s FCA regulated business it also operates an offshore Bahamas licensed entity, Blackwell Global Investments Limited.