Despite A Drop In Revenue, LandFX UK Turns A Profit In 2021

LandFX UK Ltd., the FCA-regulated subsidiary of the LandFX Company, presented its financials for fiscal 2021, which concluded on December 31, declaring a profit of £13,546 and rebounding from a deficit of £8,720 the previous year.

It was the first year in the company's existence that its UK operations made a profit, however, losses were dramatically reduced last year. It had a pre-tax loss of £221,167 in FY19 and £591,485 in FY18.

However, the broker's trading volume fell last year. According to the Companies House statement, it produced a total turnover of £711,544 in fiscal 2021, up from £766,199 the previous year. That was a drop of more than 7% year over year.

Furthermore, the broker was able to reduce its sales and administrative expenditures. According to the figures, the sales cost was reduced from £23,029 to £13,943. Furthermore, administrative expenses fell by more than 9.1 percent to £683,224.

The lower costs resulted in an operational profit of £14,377, compared to a loss of £8,720 in the previous fiscal year.

Expansion Continues

LandFX UK operates under a license issued by the Financial Conduct Authority (FCA) in 2016. It developed an institutional service under the moniker Land-Liquidity, which offers institutional liquidity for FX, CFDs, metals, and commodities. It focuses on bridging the gap between customers and prime brokers, who need a significant amount of cash to offer institutional-level liquidity.

Furthermore, the broker said that it continues to develop its customer base in the European and non-European markets last year using online and offline marketing channels, a strategy that has been consistent for the broker over the last several years.

About Land-FX

Land-FX is a regulated forex and CFD broker with offices in over 200 countries. Our analysis goes into their demo contests, customer service, and MT4 and MT5 trading platforms. Determine whether or not to open a Land-FX account.

More on Land-FX

Land-FX is an international broker with various offices. Land-FX UK Ltd. is situated in London and offers trading services to inhabitants of the United Kingdom and the European Union (EEA). LandPrime Ltd. is based in St. Vincent and the Grenadines, whereas Land-FX Ltd. is based in Cyprus and has offices across Europe, Asia, and North America.

Regulation and licensing

The Finance Services Authority licenses and regulates Land-worldwide FX's branch in St. Vincent and the Grenadines (FSA).

The UK Financial Conduct Authority (FCA) has registered and regulated Land-FX, allowing the broker to deliver its services within the European Union (EEA). Land-FX UK is also a member of the Financial Services Compensation Scheme (FSCS) and the Financial Ombudsman Service (FOS). The FSCS compensates consumers up to a maximum of £50,000, and the FOS arbitrates claims impartially.

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