GCEX Reports Rapid Growth, with £4.5m Turnover and Net Profit of £1.5m
21st April 2023 - GCEX, a leading prime brokerage in several jurisdictions that enables brokers, fund managers, hedge funds and professional traders to access deep liquidity in FX and digital assets, has announced impressive financial results for the second successive year.
Turnover for y/e 31 December 2022, the firm’s second full year of trading, was reported at £4.5m (2021 16-month period was £1.9m) with a net profit of £1.5m. GCEX has confirmed a 136% increase in turnover for the 12 month’ period ending on 31 December 2022.
Over the last financial year, GCEX Group, with headquarters in London, has continued to grow its team and expanded its global footprint in Dubai, launched XplorDigital trading solutions, introduced 24/7 FX trading, and continued broadening its product offering. In addition to FX liquidity, GCEX’s institutional and professional clients can access over 40 different crypto products as spot or CFDs. GCEX, has also strengthened partnerships with Tier 1, trusted Liquidity Providers as well as digital asset custody solutions.
Lars Holst, Founder and CEO, GCEX added, “2022 was an extremely successful year for GCEX as we continued to experience rapid growth despite the challenges faced by the industry towards the end of the year. Our strong financial results highlight that we are a trusted provider, with robust technology and a compelling offering."
“We are reinvesting our profits in the business in order to continue our international expansion, further develop our proprietary XplorDigital solutions and evolve our offering for our global client base. We have ambitious growth plans and will be making a series of strategic announcements over the coming months.”
GCEX Group enables institutional clients to access deep liquidity in FX and CFDs on digital assets, as well as digital assets spot trading and conversion in addition to a broad range of Forex brokerage and technology solutions. Headquartered in London, with multiple offices across the globe, GCEX is regulated by the UK’s FCA, registered with the Danish FSA as a VASP and currency exchange and has been granted a Virtual Asset Service Provider License for the MVP phase by the Dubai Virtual Assets Regulatory Authority. True Global Ventures are investors in GCEX.
