ThinkMarkets UK sees Revenues decline 26% in 2024, posts loss
Client money at ThinkMarkets UK declined by 30% from £2.57 million as at year-end 2023, to £1.80 million in 2024.
ThinkMarkets is a Retail FX and CFDs broker established as ThinkForex in 2010 by brothers Nauman and Faizan Anees in New Zealand. The company relocated its headquarters to Australia upon obtaining ASIC regulation 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.
ThinkMarkets is doing about $75 million in annual revenues. The company is currently reportedly considering an IPO.
Client money at ThinkMarkets UK declined by 30% from £2.57 million as at year-end 2023, to £1.80 million in 2024.
TradingView today announced an expanded integration with ThinkMarkets, a well-established partner now available on TradingView’s mobile platform.
Khadija Boudlal joins XTB MENA from ThinkMarkets, where she served as Head of Operations.
The interim mandatory injunction requires ThinkMarkets to transfer $4.28 million into its UK client money segregated account by January 15.
The cancellation of the ThinkMarkets-FG deal marks the third consecutive failed attempt of a Retail FX and CFDs broker to go public.
The decision to cancel the ThinkMarkets merger with FG Acquisition Corp was apparently a mutual one.
FG Acquisition and ThinkMarkets still intend to go ahead with their merger, which will require at least $10 million to be raised.
FG is facing an already-once-extended deadline of November 30 to come up with at least $10 million in fresh capital.
FG Acquisition Corp needs to raise a minimum of $10 million in new capital to fulfil the terms of its merger agreement with ThinkMarkets.
When ThinkMarkets announced that it was going public by merging with FG, the plan was for the deal to be completed by the end of July 2023.