LATEST POSTS
Henrik Normann replaces Lone Fonss Schroder as Chairman of Saxo BankCanadian regulator BCSC warns against cryptocurrency company Cryp Trade Capital HoldingsFrench AMF publishes the summary of responses to the public consultation on ICOPlaytech suffers $7.6 million Q4 loss from ‘crypto hype’, as Revenues decline in 2H-2017ASIC bans former Charter Financial Planning adviserBitcoin exchange BitFunder and founder Jon Montroll charged with fraudHow a glitch can cost $20 billion worth of BitcoinTesla – the latest victim of cryptocurrency miningAlly looks for youth with strategic investment in cards-for-teens provider Greenlight FinancialIOSCO consults on guidance to address conflicts of interest in the equity capital raising processCryptocurrency markets improve as Bitcoin hits a three-week highMoscow Exchange recommends candidates for Supervisory BoardSamsung Pay now available for Commonwealth Bank customersJane Street’s systematic internaliser now available via QuantHouse API EcosystemMAS consults on regulations to require OTC derivatives to be traded on organised marketsSiam Commercial Bank adopts Thomson Reuters wealth management solutionsSET’s Board appoints Pakorn Peetathawatchai as the exchange’s 13th presidentConfluence and ICE Data Services to help firms meet SEC Modernization reporting requirementsFrom Round Balls to Egg Shaped Balls: A shift in Sponsorship Strategy by Online Trading companiesFairFX buys international payments provider City Forex for £6 million

Hong Kong forex broker KVB Kunlun warns of Q1-2017 loss


KVB Kunlun office

Hong Kong Forex retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has issued a statement warning investors that it expects to report a loss for the first quarter of 2017.

Profit (or more accurately, loss) warnings have become something of a bad habit lately at KVB. For the company, controlled by China’s CITIC Securities Company Limited (SHA:600030), this marks three warning quarters in a row after KVB issued profit warnings for the full year 2016, and for nine months 2016.

This time around, KVB blamed the not-yet-reported loss on:

(i) the decrease in leveraged foreign exchange and other trading income mainly resulted from the low market volatility;

(ii) the increase in referral fee and other charges mainly caused by the increased commission rebate to external parties (including margin business and PRC operations); and

(iii) the increase in administrative expenses mainly due to increased marketing expenses, regulatory and compliance expenses, computer services expense and customer promotion expenses as the Group expanded its business operation.

While we are still waiting on Q1 results for many of the world’s leading Forex brokers, initial indications are that Q1 volumes were fairly strong, including record volumes seen in March as some leading eFX venues. So, a better explanation for KVB’s problems is probably just overspending and lack of execution.

KVB’s full profit warning for Q1-2017 can be seen here (pdf).

Related News

arrow

Hong Kong forex broker KVB Kunlun warns of Q1-2017 loss

2

Send this to a friend

Subscribe to LeapRate
PGlmcmFtZSBzcmM9Ii93cC1jb250ZW50L2E0bHIvaGFuMTZyZXNfNjI1eDQwMC5odG1sIiB3aWR0aD0iNjI1IiBoZWlnaHQ9IjQwMCIgZnJhbWVib3JkZXI9IjAiIHN0eWxlPSJib3JkZXI6bm9uZTsiIHNlYW1sZXNzPjwvaWZyYW1lPg==
Fill out the form below for more information
for lising in LeapRate's Forex Yellow Pages

Please enter the company name, email address to reach you and phone # (optional):

Please fill out the message field to the right for any questions or special inquiry:
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS9hNGxyMTcvbG1heC82MDB4NDI1Lmh0bWwiIGZyYW1lYm9yZGVyPSIwIiB3aWR0aD0iNjAwIiBoZWlnaHQ9NDI1Ij48L2lmcmFtZT4=
PGlmcmFtZSBzcmM9Imh0dHBzOi8vd3d3LmxlYXByYXRlLmNvbS8vYTRscjE3L3VmeDE4LzYwMHg0MjVfMXN0LVRpbWVMZWFwUmF0ZS1lbi1HQl9IVE1MNS5odG1sIiBmcmFtZWJvcmRlcj0iMCIgd2lkdGg9IjYwMCIgaGVpZ2h0PTQyNSI+PC9pZnJhbWU+
PGlmcmFtZSBzcmM9Ii8vY2RuLmJhbm5lcnNuYWNrLmNvbS9iYW5uZXJzL2JjaWVod29iOC9lbWJlZC9pbmRleC5odG1sP3VzZXJJZD0zMTU5MzQwNiZ0PTE1MTAxMzg3MTAiIHdpZHRoPSIxMDAlIiBoZWlnaHQ9IjEwMCUiIHNjcm9sbGluZz0ibm8iIGZyYW1lYm9yZGVyPSIwIiBhbGxvd3RyYW5zcGFyZW5jeT0idHJ1ZSIgYWxsb3dmdWxsc2NyZWVuPSJ0cnVlIj48L2lmcmFtZT4=