BP Prime, An FX Broker, Reports A 402% Increase In Revenue For FY22

The broker recovered its losses and made a profit.

It is presently concentrating on growth.

Black Pearl Securities, a forex and contracts for differences (CFDs) broker known as BP Prime, has released its annual reports for the fiscal year 2022, which runs from April 2021 to March 2022. The firm had revenue of £1.64 million, which is five times greater than the previous fiscal year's sales of £326,876.

Furthermore, the increase in sales influenced the company's profitability, with the pre-tax number coming in at £839,192, up from a loss of £520,599 in FY2021. It finished the year with an after-tax profit of £786,849, up from a loss of £515,379 the previous year.

Despite a 402 percent increase in sales, the broker managed to reduce its administrative expenditures last year to £536,639 from £777,086.

The BP Prime brand was established in 2013 and provides forex trading services as well as CFDs on a few other asset classes.

According to the company's registration with Companies House, “the company's major source of income is commission, which is dependent on the number of transactions carried out by the company's customers.”

“In comparison to 2021, turnover grew throughout the year, showing [the] effectiveness of the company plan.” “The board is committed to growing its professional and retail clientele.”

Furthermore, the broker is also exploring prospects to expand in the United Kingdom and other international markets. BP Prime already has clients throughout Europe, Asia, and South America, according to its website.

“The directors anticipate the firm to develop its business in both it's core and new areas, resulting in sustained improvement in the company's financial performance,” the document read.

More of BP Prime

BP Prime is a licensed broker that offers cross-platform forex trading using the MT4 desktop, mobile, and tablet apps. If you're debating whether to join BP Prime and trade, our review will tell you all you need to know about fees, deposits, and incentives.

BP Prime provides a wide selection of forex and CFD products on a world-class platform, as well as competitive trading accounts. For both retail and institutional customers, the Non-Dealing Desk broker offers quick execution and low latency.

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