Income Decreases to GBP1.8 Million, ThinkMarkets UK Records Loss

ThinkMarkets UK, the British branch of forex broker ThinkMarkets, has released its 2024 financial report, showing a challenging year mixed with strategic growth. Despite recording a net loss, the company continues to move forward with innovation and new product offerings.

According to the report, TF Global Markets (UK) Limited experienced a significant decrease in turnover - from £2.4 million in 2023 to £1.8 million in 2024. At the same time, administrative costs increased, resulting in an operational loss of £56,507. This is in stark contrast to the previous year, where the company recorded an operational profit of £114,378.

After adding interest income of £68,000 - identical to 2023 - and reducing interest expense, forex broker ThinkMarkets ended the year with a pre-tax loss of £16,533. The post-tax loss reached £9,722, reversing the profit of £82,925 from the previous year.

Despite the negative financial results, this is not bad news. ThinkMarkets continues to develop its trading services. In 2024, the broker integrated TradingView into its platform, opening mobile access and making it easier for traders to use advanced charting tools on the go. Previously, this feature was only available through desktop.

The financial report also highlights that the reported income of ThinkMarkets UK is based on service fees paid by its parent company under Transfer Pricing arrangements, not from direct trading activities. So, the reported figures do not always reflect losses from trading operations.

Other than platform enhancements, in the latest forex broker news, ThinkMarkets has recently launched an exclusive trading program under the ThinkCapital brand, offering a simulated trading environment and educational resources for prospective traders. Even in a tough financial year, the multi-asset broker continues to build momentum with a focus on innovation and trader experience.