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Retail FX Broker Fortrade Announces Record Revenue in 2020
Fortrade, a leading provider of online trading solutions for individual and institutional clients, has recorded a revenue of £26.7 million in 2020, showing a great increase compared to 2019's £17.7 million.
Fortrade had reported a 12% YoY decline in revenue during 2019, after the FCA and European regulators cut leverage levels that brokers could afford clients on CFD trades.
However, the brokerage did not see much of a monetary increase in profits, however, which totaled £996K versus £147K in 2019, as expenses kept pace with the Revenue increase.
Founded in 2013, Fortrade is a retail FX and CFDs broker that offers leading CFDs trading services with forex, stocks, indices, commodities, and US treasuries. Fortrade is controlled by Liechtenstein based investment firm Audina Treuhand AG.
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