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Screenshot of a breaking news alert e-mail from Q2 2017
LeapRate Exclusive… LeapRate has learned via filings made in the UK and the UAE that Arab-focused retail forex broker One Financial Markets has seen a nice bump in its business activity and profitability in 2016, after what was a fairly difficult 2015 for the company.
On the top line, One Financial brought in record Revenues of $37.7 million in 2016, up 34% from $28.2 million the prior year.
On the bottom line, One Financial turned a $3.4 million loss in 2015 into positive net profit of $4.9 million in 2016. The company was apparently hit hard by the January 2015 Swiss Franc spike, leading to the loss in 2015, but more than turned things around in more agreeable conditions in 2016.
Trading volumes averaged $40 billion per month in 2016 at One Financial. The company also grew its client assets to $34 million, up from $25 million last year.
The company continued its expansion efforts throughout the year, receiving an SFC license and opening a Hong Kong office toward the end of 2016. One Financial invested $645,000 into its HK subsidiary in early 2016 to match Hong Kong regulatory requirements.
One Financial is operated by FCA regulated parent company CB Financial Services Limited. The company is controlled by UAE based entrepreneur Khaleefa Al Muhairi.
One Financial’s 2016 income statement follows: