According to the latest Companies House filing, the London-based forex and CFDs broker Fortrade has registered a significant growth in the financial year 2020, ending on 31 December.
Fortrade’s turnover for 2020 stood at £26.67 million. Compared to the previous year’s £15.54 million, this was a 71.6% jump. The cost of sales, however, also increased from £12.15 million in 2019 to £22.09 million in 2020.
The broker registered gross profit of £4.58 million. The pre-tax profit, before administrative expenses and other payable interests and charges, stood at £1.2 million, a 592% surge compared to the previous year.
The net profit came in at £995,642, a 575.5% higher than the previous year’s £147,404.