Exclusive FNG… FNG has learned through regulatory filings that Retail FX and CFDs broker Exinity UK Limited, the FCA-regulated arm of Andrey Dashin’s Exinity Group, posted a healthy 23% rise in revenue in 2023, to £2.1m from £1.7m £ the previous year.
However, due to an increase in Admin Expenses, Exinity UK profits fell by 33% to £213K vs £319K in 2022.
Exinity UK is an online financial services provider regulated by the Financial Conduct Authority, which acts as an assigned prime broker in retail CFD markets. The Company’s revenue is derived from retail brokerage service fees received from an affiliated company, Exinity Limited (formerly Forextime Limited), pursuant to an agreement between these companies, as all of the Company’s customer transactions are matched with Exinity Limited in the capacity as the company’s liquidity provider. Revenue is recognized from fees charged to Exinity Limited.
At 31 December 2023 the Company’s total assets were £7,412,264 (2022: £5,815,524) and its net assets were £5,423,890 (2022: £5,210,428). In 2023 the Company opened 347 new accounts, of which 190 had received funds deposited by clients before the end of the year.
Customer money held by Exinity UK totaled £596,000 at the end of 2023, up from £581,000 in 2022.
The Company was incorporated in February 2017 and was licensed by the FCA in February 2018, with the launch of its client trading platform in April 2018.
Exinity Group was launched in 2020, as an umbrella that includes the various retail FX/CFD businesses owned by Andrey Dashin, including offshore brokerage brands FXTM and Alpari, and more recently investment app Nemo and gaming platform Pulse.
Here is Exinity UK’s 2023 income statement and balance sheet.
