Exclusive: Retail FX broker HYCM sees revenues flat in 2017 at £3.1 million

Torstone Technology expands its London headquarters

LeapRate Exclusive… LeapRate has learned via regulatory filings that FCA regulated Retail Forex and CFDs brokerage Henyep Capital Markets (UK) Limited (or HYCM) brought in revenues of £3.1 million in 2017, a figure virtually identical to that of 2016.

Net profit for the year at HYCM was £161,000, down from £362,000 the previous year.

The results include those of HYCM Dubai subsidiary Henyep Capital Markets (DIFC) Limited.

Henyep 2018 revenuesMost of HYCM’s revenues (72%) came from clients in the UK, with the remaining 28% coming from clients in the Rest-of-the-World (see table at right)

HYCM is part of Hong Kong based Henyep Group, a real estate and finance company controlled by Hong Kong based businessman Sheen-Charm Chiu.

Henyep recently activated its CySEC-licensed subsidiary in Cyprus called HYCM (Europe) Ltd, by longtime Henyep director and former AFX Capital CEO Stavros Lambouris. Henyep acquired a CySEC-licensed company called FTSL Financial Trading Solutions Ltd in 2014, renaming it HYCM (Europe) Limited. While that company has been fairly dormant until now, LeapRate has learned that the company’s offices which were at the time operating out of Dubai are now relocating to Cyprus.

HYCM’s 2017 income statement follows:

henyep uk income statement 2017

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