Exclusive: ThinkMarkets UK sees Revenue down 38% in 2021 as activity slows
FNG Exclusive… FNG has learned via regulatory filings that TF Global Markets (UK) Limited, the FCA-regulated arm of Australia-based Retail FX broker ThinkMarkets, saw a drastic drop in Revenues in 2021, although a fairly similar result to 2020 in the bottom line, turning a small profit.
Following a 13% rise in Revenues in 2020 (to £4.39 million), 2021 saw ThinkMarkets UK Revenue fall by 38% to £2.74 million. Profits, however, were up slightly from last year’s £279,000 to £305,000.
Client assets were also down for the second consecutive year at ThinkMarkets UK, £3.72 million as at year-end 2021 versus £4.68 million in 2020.
Revenues at entities like ThinkMarkets UK – which just pass on actual execution of trades to a parent company elsewhere, in this case to TF Global Markets (Aust) Pty in Australia – are essentially management fees earned from the executing parent company in return for brokering the trade and holding client assets. But they are generally indicative of overall client activity.
ThinkMarkets UK established last year an institutional services and liquidity arm called – appropriately – Liquidity.net, under its TF Global Markets (UK) Limited FCA license. However it seems that the company has run into some delays in getting that business fully off the ground and running.
ThinkForex was established in 2010 by brothers Nauman and Faizan Anees in New Zealand, and relocated its headquarters to Australia upon obtaining ASIC licensing in 2012. ThinkForex rebranded as ThinkMarkets in 2016. The company has dual headquarters in Melbourne and London, where ThinkMarkets set up its FCA-licensed subsidiary TF Global Markets (UK) Limited in 2015. The firm also has a licensed subsidiary in South Africa, established in 2019. ThinkMarkets offers trading on its proprietary ThinkTrader platform, as well as MT4 and MT5.