London-Based CFDs Broker One Global Market Triples FY23 Revenue
One Global Market, a United Kingdom-registered contracts for differences (CFDs) broker operator, closed the fiscal year on 30 September 2023 with a turnover of £791,791, an increase of 213 percent from the previous year.
The higher revenue also pushed the sales cost upward to £123,677 from £38,290, resulting in a gross profit of £668,114, which is increased by 212 percent. The administrative expense of the London-based company also increased significantly to £520,304 from £181,496, a rise of 187 percent.
After considering the other income and expenditure, the pre-tax and net profit both came in the same at £147,813, a year-on-year increase of about 350 percent, according to the latest Companies House filing.
“2023 proved to be a profitable year for OGM. This financial success laid a solid foundation for the company’s future endeavors, providing the financial stability needed to invest in growth initiatives,” the company stated.
FY23 income sheet of OGM
Strategic Changes Lead to the Growth
One Global Market or OCM operates as a broker with the authorization of the Financial Conduct Authority in the UK. It primarily offers online forex and CFDs instruments of several asset classes and targets retail and professional clients.
As the broker highlighted, it generates revenue from three sources: spread markups, commissions, and swap premiums. It operates on an agency brokerage model, and thus its revenue entirely depends on the clients’ trading volume.
“In 2023, OGM experienced a significant turning point as it underwent a change in control, a process that was approved and finalized by year-end. This change brought new shareholder, fresh perspectives, and a strategic vision to the organization. With a renewed sense of purpose and direction,” the filing added.
“As OGM ends a transformative year. It strengthened its leadership team to focus on growth and compliance, especially the consumer duty to set the stage for 2024. The company is well-prepared to navigate future challenges and capitalize on opportunities in the financial industry, promising continued success in the year ahead.”
One Global Market, a United Kingdom-registered contracts for differences (CFDs) broker operator, closed the fiscal year on 30 September 2023 with a turnover of £791,791, an increase of 213 percent from the previous year.
The higher revenue also pushed the sales cost upward to £123,677 from £38,290, resulting in a gross profit of £668,114, which is increased by 212 percent. The administrative expense of the London-based company also increased significantly to £520,304 from £181,496, a rise of 187 percent.
After considering the other income and expenditure, the pre-tax and net profit both came in the same at £147,813, a year-on-year increase of about 350 percent, according to the latest Companies House filing.
“2023 proved to be a profitable year for OGM. This financial success laid a solid foundation for the company’s future endeavors, providing the financial stability needed to invest in growth initiatives,” the company stated.
FY23 income sheet of OGM
Strategic Changes Lead to the Growth
One Global Market or OCM operates as a broker with the authorization of the Financial Conduct Authority in the UK. It primarily offers online forex and CFDs instruments of several asset classes and targets retail and professional clients.
As the broker highlighted, it generates revenue from three sources: spread markups, commissions, and swap premiums. It operates on an agency brokerage model, and thus its revenue entirely depends on the clients’ trading volume.
“In 2023, OGM experienced a significant turning point as it underwent a change in control, a process that was approved and finalized by year-end. This change brought new shareholder, fresh perspectives, and a strategic vision to the organization. With a renewed sense of purpose and direction,” the filing added.
“As OGM ends a transformative year. It strengthened its leadership team to focus on growth and compliance, especially the consumer duty to set the stage for 2024. The company is well-prepared to navigate future challenges and capitalize on opportunities in the financial industry, promising continued success in the year ahead.”
