Exinity UK Limited, the FCA adjustable arm of the Exinity Group Brokerage Brokerage, said its financial results for 2024, indicating a slight reduction in revenue, but an increase in profitability in 2024.
Revenue at Exinity UK amounted to £ 1.8 million in 2024, down 14% from £ 2.1 million in 2023. The net profit of £ 343K increased by 61% from £ 213k in the previous year.
Customer money owned by Exinity UK amounted to £ 362K at the end of 2024, compared to £ 596k in 2023.
Exinity UK is an online financial service provider regulated by the Financial Behavior Authority, which acts as a head broker in retail CFD markets. The revenue of the company comes from committees based on volume and service fees obtained from a connected company, Exinity Limited under an intermediate agreement between these companies, as all company customer transactions match Exinity Limited in its capacity as a liquidity provider. Revenue is recognized by the service charges charged to Exinity Limited.
The main performance indicators of the company (“KPIS”), which is used by the management to evaluate and monitor the business and its performance, consist mainly of new accounts that open, volumes that are negotiating and total profitability. In 2024 the company opened new accounts 476 (2023: 347), of which 79 (2023: 190) had received funds deposited by customers before the end of the year.
The Exinity team started in 2020, as an umbrella team that included the various FX/CFD retail companies owned by Andrey Dashin, including FXTM and Alpari brands and more recently the Nemo Investing App and the Pulse Game Platform.