4T Markets Limited, formerly known as Formax Prime Capital (UK) Limited, has disclosed its financial report for the fiscal year ending March 31, 2023 (FY2023). This marks the first full year of operations under its rebranded identity. The London-based company reported a significant surge in revenue but also noted an expanded net loss.

The company’s total revenue for the fiscal year amounted to £235,821, nearly doubling from the previous year’s figure of £119,044. Despite this positive growth, the net loss widened to £300,157, compared to the previous year’s net loss of £271,446.

According to the latest Companies House filing, the sales cost experienced a substantial increase, rising from £62,572 to £132,865. Although 4T Markets Limited achieved a gross profit of £102,956, an administrative expense of £403,000 contributed to a deepened operating loss.

4T Markets Limited FY2023 Report: Revenue Surges, Net Loss Widens

The filing stated, “During the period of April 1, 2022, to March 31, 2023, 4T Markets Limited continued the implementation of its business plan and completed the first full financial year of operation following the rebranding that the Firm underwent in Q4 of 2021. Senior Management oversaw a complete website overhaul in Q2 2022… Delays in the implementation of the business plan have been, and still are, being experienced due to many different factors.”

The company faced a challenging period in 2018, prompting a re-evaluation of its operating model and management structure. A restructuring initiative commenced in 2019 and extended through the financial year 2022. As part of this restructuring, ownership of the broker was fully transferred to Regalis Trading Solutions, a process completed in May 2021. Regalis is owned by British businessman Waqas Mahmod, who also serves on the board of 4T Markets.

In addition to the restructuring, 4T Global Ltd acquired a minority stake of 9.95% in 4T Markets Limited. This was a transaction that was completed on the last day of the fiscal year 2023. The Companies House filing emphasized the firm’s focus on targeting a diverse client base, ranging from high-net-worth individuals to professional and institutional investors, all possessing extensive knowledge in the trading industry.

Despite the challenges faced during the fiscal year, 4T Markets Limited remains optimistic about the future. They are committed to realizing its strategic objectives in the evolving financial landscape.

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