LeapRate Exclusive… LeapRate has learned via regulatory filings that 2015 was another banner year of growth for ETX Capital.
After seeing 2014 revenues soar by 38%, the company continued the positive momentum in fiscal year 2015, with revenues up another 20% to £41.3 million (USD $51 million). However the growth came at a cost, with ETX parent company Monecor (London) Limited seeing a decrease in profit, from £1.8 million in 2014 to just £968,000 million in 2015.
Virtually the entire increase in revenues came from Retail clients. Institutional trading activity at ETX was up just marginally (2%) in 2015, to £5.2 million, or just 13% of the company’s overall activity.
Interestingly, ETX accomplished its revenue growth while holding back marketing budget for most of the year 2015, in anticipation of making a larger marketing push in early 2016 (which ETX did) following the company’s rebranding and launch of its new trading platform. ETX also offers trading on MT4.
ETX continued growing internationally, with home-market UK revenues accounting for just 37% of the total in 2015, down from 41% in 2014.
ETX stated that the impact of the Swiss Franc spike of January 2015 on its results was indeed negative, but fairly limited.
ETX received a one-time bump in activity in 2015, with the acquisition of the Alpari UK client list. ETX reported now that it felt the migration of ex Alpari UK clients to ETX went quite well, with over £10 million of Alpari UK client money moving over to ETX from about 4,000 active clients by year-end 2015.
ETX Capital’s income statement for 2015, versus 2014 results.