Exclusive: Land-FX grows revenues but posts loss for 2019
FNG Exclusive… FNG has learned that FCA-regulated Retail FX and CFDs broker Land-FX has grown its client and revenue base somewhat in 2019, but is still losing money.
London based Land-FX, which focuses mainly on servicing Asian traders, grew its Revenues from virtually nil in 2018 (£65,000) to £470,000 in 2019. The company’s net loss shrunk, from £542,000 in 2018 to £165,000 last year. But as noted the company still lost money.
Land-FX (at website land-fx.co.uk) was established in 2016 by Korean-American entrepreneur Jinsoo (Sean) Park, who had previously resided in Silicon Valley and run a VC-backed mobile games developer called Ender’s Fund. Mr. Park had also been CEO of a stock trading simulation website called Zoodak.
Land-FX’s capital base stood at £386,000 as at year end 2019, with accumulated losses eating into the £1.9 million of capital which Mr. Park has injected into the business to date.
The company had plans to launch an FCA licensed institutional FX arm called Land Liquidity, but it seems that those plans (and the Land Liquidity website) have gone offline, at least for the time being.
The UK company is part of Mr. Park’s global Land-FX brand, which includes the land-fx.com offshore site operated by Landprime Ltd. domiciled in St. Vincent and the Grenadines.