TF Global Markets UK Ltd Reports a Gross Profit of GBP 4.38 Million in 2020

TF Global Markets UK Ltd Reports a Gross Profit of GBP 4.38 Million in 2020

The firm noted that its total balance as of December 31, 2020, accounted for GBP 2,867,912.

TF Global Markets (UK) Ltd, the British arm of the broker firm ThinkMarkets, unveiled on Thursday the full accounts made up for the year ended on December 31, 2020. According to the company, gross profit netted GBP 4.38 million, which is up from the figure posted in the prior year of GBP 3.89 million.

In terms of operating profits, TF Global Markets unveiled that it was GBP 206,556, which represented a decline from the 2019 number of GBP 356,592. Moving onto profits before taxation, the broker reported GBP 274,556 for the fiscal year of 2020, which is down from the figure seen in the prior year of GBP 422,508.

Furthermore, the profits for the financial year 2020 hit GBP 278,925, down from the GBP 429,672 number witnessed in 2019. That said, the total comprehensive income for the year in TF Global Markets (UK) Ltd was GBP 278,925, which is down from the prior year‘s figure of GBP 429,672. Also, total equity for the firm in 2020 was GBP 2.86 million, slightly up from the prior year’s number of GBP 2.58 million. Overall, its total balance as of December 31, 2020, accounted for GBP 2,867,912, while its cash and equivalents at the end of the year were GBP 2,402,013, up from the 2019 figure of GBP 605,001.

Recent ThinkMarkets Announcements

Early this month, Finance Magnates reported the announcement of ThinkMarkets of launching its institutional business with a new platform called Liquidity.net, which is registered with and regulated by the UKs Financial Conduct Authority (FCA). With offices in London and Dubai, the institutional platform will provide multi-asset liquidity provision. In addition, it will leverage its prime broker relationships to target banks, brokers, hedge funds, and asset managers.

Besides the usual prime-of-prime partnerships, Liquidity.net will provide white-label offerings through MetaTrader 4, MetaTrader 5, and Integral.