Pepperstone UK, a subsidiary of Pepperstone Group who are headquartered in Australia released their annual report for the fiscal year ending June 30, 2018.
The Global forex and CFD broker, which is recognized as one of the fastest growing companies in Australia achieved strong trading revenues with a profit of £1.7 million.
That’s not all …………………..
The report also showed £14.6 million of client funds which are held in segregated accounts, an increase of almost 100 percent of £4,890 held in 2017.
Pepperstone UK entered the UK market in 2017 with a soft launch and suspended trading for 2 months to refocus, improve operations and enhance systems. Recommencing business activities in August 2017 they managed to rack up a trading revenue of £4.98 million.
Trading revenue in 2017 was at £32,952, giving them an increase of approximately 99 percent based on a year-on-year for the fiscal year ending June 30, 2018. Since starting its operations a year ago in 2017, this is the first time they have been profitable. Last fiscal year Pepperstone reported a loss of £280,162.
The best part?