IronFX reveals 2014 financial results

IronFX UK 2014 results: Revenues $6.9 million; Profit $244,000

Recently, IronFX was mired in a controversy surrounding the withdrawal requests of some customers and was caught in the middle of an investigation by the CySEC. However, on a brighter note, in a regulatory report for the 12 months to December 31, 2014, IronFX UK reports revenues of $6.92 million and net profit of $243,973.

Retail forex broker IronFX Global UK Limited has earlier this week filed its financial report for the year to December 31, 2014 with the UK regulators, with the numbers showing solid revenue growth for the FCA-regulated UK subsidiary of IronFX. The document also indicates that the company has obtained a "matched-principal brokers license" from the FCA, this term describes a brokerage that uses an agency model (STP or Straight-Through Processing).

Annual revenues reached $6.92 million, compared with $815,576 a year earlier.
Administrative expenses amounted to $6.59 million, which left the company with a profit before taxation of $329,433.
After taxes, the profit attributable to shareholders amounted to $243,973.
Total assets at the end of 2014 amounted to $4.95 million.
Total equity in IronFX’s UK arm sat at $2.7 million at year end.

The directors of IronFX UK had the following to say about the 2014 financial results of the broker:
“The performance for the year, and the position at 31 December 2014, are considered to be satisfactory and the directors are optimistic about the future as the business grows.”

To download the full Iron FX UK report, please click here.