- Gildencrest Capital achieves 52% revenue growth in 2023, driven by expansion into equity trading.
- The company attributed its growth to the successful expansion into equity trading, which saw volumes increase by an impressive 83%.
Gildencrest Capital Ltd, a UK-based online broker regulated by the Financial Conduct Authority (FCA), has announced a significant 52% increase in revenues for the year 2023, reaching £7.55 million (USD $9.6 million).
This growth comes on the heels of the company’s strategic decision to diversify beyond its traditional focus on FX and CFDs, venturing into the equities market and targeting professional clients.
Despite the strong revenue growth, Gildencrest Capital experienced a decline in net profit to £0.8 million, due to an increased cost base associated with the expansion efforts.
However, the company remains optimistic about its future prospects, citing increased trading volumes in both CFDs and equities as indicators of a successful transition.
Gildencrest Capital, formerly known as TeraFX, rebranded as part of a broader strategic shift aimed at differentiating itself from its Turkish parent company Tera Yatirim and targeting a new clientele.
Under the leadership of CEO David George, the company has successfully navigated this transition, capitalizing on favorable market conditions and a broader product offering.
Looking ahead to 2024, Gildencrest Capital acknowledges the ongoing uncertainties in the global markets, but remains confident in its ability to adapt and thrive.
