CMC Markets Raises Its FY Expectations With Strong Q4
CMC Markets has announced that it adjusted its income expectations twice for the current financial year.
With the new adjustment, the income expectation of the company for FY2021 becomes £390.9 million, ranging from £387.5 million to £399.6 million.
According to the previous update, the company’s net income was estimated to be £376.6 million, ranging from £370.2 million to £387.5 million.
The broker also raised its pre-tax profits expectation to £210.6 million, ranging from £206.3 million to £217.7 million.
The company’s success can be traced back to the first half of the financial year. CMC Markets has also reported an %135 increase in revenue in that period with around £200 million. Peter Cruddas, CMC Markets CEO told: “I am delighted by the strong performance of the business so far during the last quarter of our financial year,” said “Our relentless focus on supporting clients with market-leading technology and service has fuelled record growth and puts us in a great position as we start the next financial year.”
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Robinhood Files Confidentially For IPO
Robinhood is one of the most promising trading platforms in the industry. The company keeps rising despite recent actions that made them unfavourable in the eyes of part of traders. According to the last report, the firm filed confidentially for an initial public offering (IPO) on Monday.
Robinhood showed confidence in its future with a short statement on Tuesday afternoon it has submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission for IPO.
The number of shares planned to sell and the time of the action were not stated by the Silicon Valley startup.
The announcement stated: “The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.
SEE MORE: ROBINHOOD FILES CONFIDENTIALLY FOR IPO
OANDA Acquisition Of TMS Broker Approved by Polish Authorities
OANDA is one of the fastest-growing brokers in the industry and they keep the wheel spinning. The latest move of the company was the acquisition of Dom Maklerski TMS Brokers SA, aka TMS Brokers. The legal process was waited by the market and Polis regulators have approved the takeover according to the last reports.
The news release has been confirmed by the Canada-based brokerage business and the deal has been unconditionally closed.
The dominance of OANDA in North America was commonly known and it seems like the company decided to expand its businesses through different parts of the world.
TMS Broker is in the market for over 20 years and becomes the second-largest Polish brokerage recently. Polish Financial Supervision Authority (KNF) is the regulatory organ that gives permission to the company to operate in the European Union.
SEE MORE: OANDA ACQUISITION OF TMS BROKER APPROVED BY POLISH AUTHORITIES
The Revenue of IG Group Jumped by 65% In a Year
IG Group, one of the most reliable Forex brokers in the world, has recently announced an update on the firm’s revenue for the third quarter of the financial year that will end on 31 May 2021. As predicted before, the trading activity has increased remarkably in Q3 of FY21. IG Group stated that their revenue reached a level of £230.3 million, which has been risen by 65% compared to £139.8 million in Q3 of FY20.
The leading factors for this jump are the rising training activities of the existing customers and the increasing number of new clients acquired by the company. The number of active clients has increased by 60% from 143,800 in Q3 of FY20 to 230,100 in Q3 of FY21.
June Felix, the CEO of IG Group, said: “I am delighted with the excellent results and progress we have made towards delivering on our strategic goals. The continued performance from the Significant Opportunities portfolio has been remarkable, and we anticipate substantially achieving the revenue target of £160 million one year ahead of plan.
The Group is also continuing to grow the size of its high quality and loyal client base which represents a long-term asset to the Group.”