Gildencrest Capital Doubles 2023 CFDs Volume!

Gildencrest Capital, previously known as TeraFX, has reported a substantial increase in its trading activity for 2023, particularly in the Contracts for Difference (CFDs) segment. The broker successfully doubled its CFD trading volume, resulting in significant revenue gains and strategic shifts to expand its market footprint.

In 2023, Gildencrest Capital recorded an annual turnover exceeding £7.5 million, reflecting a 53% rise from the previous year. This impressive growth was primarily driven by the robust performance of its CFDs offering, which generated £4.7 million in income. The platform’s overall forex and CFDs trading volume surged by 94 percent to reach £37.6 billion. Additionally, the Market Securities division experienced an 83 percent increase in trading volume, reaching £1 billion. Equities trading services contributed an additional £2.13 million in annual income, showcasing the broker’s diversified revenue streams.

Strategic Shift

The remarkable increase in CFD trading volume prompted Gildencrest Capital to reevaluate its business strategy. The company decided to shift its focus away from the global forex market to concentrate more on other capital market instruments. This strategic pivot aims to diversify its product offerings and brokerage activities, aligning more closely with the needs of smaller institutional professional clients rather than the retail segment.

In line with these strategic adjustments, Gildencrest Capital is exploring opportunities for joint ventures to further enhance its CFDs revenue. Although specific details of potential ventures were not disclosed, the company’s proactive approach indicates a commitment to leveraging partnerships for growth and innovation.

Despite the positive revenue figures, Gildencrest Capital faced increased administrative expenses, which rose to £2.3 million from £1.6 million in the previous year. This increase impacted the company’s pre-tax profits, which were approximately £1.08 million in 2023, down from about £1.6 million the previous year. The net profit for the year stood at £775,328, marking a significant 94 percent decrease compared to the prior year.

Amidst these financial dynamics, the company rebranded, officially changing its name from TeraFX to Gildencrest Capital. This rebranding aligns with the company’s strategic shift and its vision for future growth. As part of this transformation, Gildencrest Capital closed its Polish branch and is now pursuing a license in Latvia. The firm plans to open a new branch in Riga later in the year, signaling its intent to strengthen its presence in the Baltic region.

The company’s decision to rebrand and expand into new markets underscores its resilience and adaptability in a competitive industry. By focusing on professional clients and diversifying its product offerings, Gildencrest Capital aims to maintain its upward trajectory and capitalize on emerging market opportunities.