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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned that FCA regulated CFDs and spreadbetting broker Capital Index (UK) Limited, owned by author and self proclaimed Master Trader Greg Secker (pictured above), posted a net profit of £398,000 in 2017 although the company saw a decline in both Revenues and Client Funds held.
Revenues for 2017 at the MT4 broker came in at £4.1 million (USD $5.6 million) at Capital Index UK, down 5% from the previous year (based on monthly average revenue for fiscal 2016, which was eight months long).
Client funds held at Capital Index UK fell to £7.4 million as at year end 2017, versus £8.4 million the prior year.
The company – which changed up its management team at the end of last year (more on that below) – indicated that the declines in Revenues and Client Funds were a result of ‘quarterly fluctuations… based on certain large introducers moving clients in and out of the business‘. Capital Index did state that its geographic spread grew slightly as clients were introduced from South East Asia as well as Europe. 71% of Revenues in 2017 were derived from UK clients, versus 73% the prior year.
As was also exclusively reported at LeapRate in December, Mr. Secker decided to change up management at Capital Index UK late last year, bringing in Matthew Wright as CEO, replacing co-founder and former ETX Capital executive Rob Woolfe. Matthew Wright joined Capital Index from rival broker Destek Markets, where he was CEO for the previous year. Mr. Wright was previously COO of the UK arm of Gain Capital Holdings Inc (NYSE:GCAP) for eight years.
We understand that Matthew Wright has a clear mandate from ownership to grow the company. He has begun to build out his management team, with the most recent hire being that of his former Gain Capital colleague Dan Gladding. Mr. Gladding was VP Risk Management and Quantitative Analytics at Gain Capital in London from 2012-2017, and has joined Capital Index as Global Head of Risk.
Matthew Wright commented to LeapRate:
We are very excited about the growth opportunities facing Capital Index, from a solid base in 2017. We are continuing to grow the management team and the services we provide to our clients.
Capital Index UK is a subsidiary of Capital Index (Cyprus) Ltd, the CySEC-licensed arm of Greg Secker’s group.
Capital Index UK’s 2017 income statement follows: