Exclusive FNG… FNG has learned through regulatory filings that AT Global Markets (UK) Limited, the broking arm of FCA-regulated London-based global online broker ATFX, has posted healthy increases in both revenue and net profit in 2023 .
AT Global Markets (UK) Limited operates the brand ‘ATFX Connect’, targeting mainly HNW and institutional clients.
Revenue at ATFX Connect rose 96% in 2023 (financial year ending 31 October) to £6.2m, up from £3.2m in 2022. The company saw a 19% increase in net assets to £8.8m (2022: £7.4m) , which included cash balances of £2.8m. As such, the company said it has a strong balance sheet and is well positioned to achieve its long-term strategy.
ATFX Connect made a net profit of £1.4m in 2023, up 65% from £838k the previous year.
The main focus of the ATFX Connect business is on foreign exchange markets. The company also offers contracts based on precious metals, oils, individual stocks and stock indices. The company will continue to trade directly in the EEA and other international territories where permitted. Key targets will be existing high net worth clients, fund managers, brokers and banks who are looking to diversify their portfolio and are comfortable with the risk profile and volatility that investing and trading in derivatives can offer.
ATFX is controlled by Hong Kong-based businessman and Group Chairman Joe Li. The group has licensed subsidiaries in the United Kingdom (FCA), Cyprus (CySEC), Mauritius, the United Arab Emirates and Australia following the company’s 2023 acquisition of Rakuten Australia’s ASIC-licensed CFD business.
ATFX Connect’s 2023 income statement and balance sheet follow below.
