Retail FX and CFDs broker Exinity UK Limited has released its financial results for 2022, indicating a slight drop in Revenues, but a rise in profitability for the year.

The revenue of the Company for the year ended 31 December 2022 was £1,679,627 (2021: £1,795,371). The profit of the Company for the year was £319,251 (2021: £16,778). As of 31 December 2022 Exinity UK held client funds of £580,953, versus £229,956 in 2021.

Exinity UK is an online financial services provider regulated by the Financial Conduct Authority, which acts as a matched principal broker in the retail CFD markets. The revenue of the Company derives from volume-based commissions and service charges received from an associated company, Forextime Limited, under an intermediary agreement between these companies, as all client trades of the Company are matched with Forextime Limited in its capacity as the Company’s liquidity provider. Revenue is recognised by reference to the total volume of client trading activity and from service fees charged to Forextime Limited.

In 2022 the Company opened 363 new accounts, of which 204 had received funds deposited by clients before the end of the year.

Exinity UK was incorporated in February 2017 (originally as Forextime UK) and received its FCA licence in February 2018, with the launch of its client trading platform following in April 2018. In October 2020, Exinity UK established a subsidiary, Exinity ME Ltd, based in the UAE. In December 2022 the Company sold its entire share capital holding in Exinity ME Ltd to its parent company, Exinity Group Limited.

Exinity was formally launched in June 2020, as an umbrella group comprising the various retail FX/CFD businesses owned by Andrey Dashin including Alpari and ForexTime (FXTM) Retail FX/CFD brands, and more recently the Nemo investing app and the Pulse gaming platform.