FCA regulated retail forex broker Valutrades Limited has filed its 2015 financial statements and report, indicating that the company’s business grew nicely during the year, and the company lost less money than the previous year.
Valutrades is the FCA regulated arm of Indonesia-based Monex Investindo Futures, controlled by Indonesian entrepreneur Anil Bahirwani. Monex set up Valutrades in the UK as Monex Capital in 2013, rebranding it as Valutrades in 2014. The company had hired CMC Markets executive Patrick Latchford to head Valutrades UK. Mr. Latchford left Valutrades for a similar role at international broker Blackwell Global late last year. Valutrades then hired former London Capital Group head of FX Operations Graeme Watkins, who now acts as CEO of Valutrades UK.
(Monex Indonesia is not to be confused with Japanese retail forex broker Monex, the two companies while sharing a common name and a common business are not related).
Back to the financials…
Valutrades brought in £505,499 in revenues in 2015, up 44% from £350,539 in 2014. The company lost £580,926 in 2015, less than the £1.0 million net loss it reported last year.
At year end 2015 Valutrades held client funds of £640,000.
Valutrades only employees four people, with the company outsourcing most activity other Monex group companies, including the company’s CySEC regulated sister company Valutrades CY Limited.
Valutrades’ 2015 income statement: