FNG Exclusive… FNG has learned that FCA regulated FX and CFDs broker Valutrades has seen an increase in activity for the third year in a row, with Revenues climbing by 47% to £6.5 million in 2022, up from £4.4 million in 2022.

Valutrades also turned a tidy profit of £735K, versus a £472K loss the prior year.

However retail client funds held at Valutrades fell by 26%, from £4.5 million as at year-end 2021 to £3.4 million in 2022.

Regarding outlook, Valutrades management said that 2022 was a good year for the company with a modest profit achieved on top of continued growth in customer numbers and transactional volume.

Whilst the effects of Covid and Ukraine war on volatility may have been reduced, concerns on high inflation and increasing interest rates assisted in continuing to provide volatility in financial markets. This resulted in an increase in the firm’s income from transactional volume. Valutrades said is also well positioned for a higher interest rate environment with positive cash balances and interest yielding bank accounts.

Looking forward, the end of 2022 and beginning of 2023 has highlighted the volatile nature of monthly income. However overall year to date performance is now where the company expects it to be with a positive March and April.

Valutrades CEO Graeme Watkins commented to FNG:

We are happy to share our results that show a strong performance for 2022. Most encouragingly these results align perfectly with our long-term strategy of investing the majority of our revenue back into our services to provide a market leading offering. The trust our clients have continued to place in us and the organic growth we are seeing is a testament to this. Looking forward, our volumes have remained consistent in 2023 and we are particularly excited about some exciting new technology projects due to launch at the end of 2023.

Valutrades is an online financial services business that offers clients trading of forex, CFDs and commodities via the Metatrader4 (MT4) platform and FIX API connectivity. The firm has a full scope FCA IFPRU €730K regulatory license. The company is run from London led by Graeme Watkins, who has been CEO since 2015. Valutrades is controlled by Indonesian investors Aman Lakhiani and Anil Bahirwani.

Valutrades’ 2022 income statement and balance sheet follow: