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.
Founded in 2018, GCEX is a pioneering regulated digital prime brokerage with a best-of-breed digital asset and FX platform for institutional and professional clients. GCEX has partnerships with Tier 1 trusted Liquidity Providers, leading counterparties and regulated digital custody asset institutions. GCEX offers a wide range of products and technology solutions including White Labels.
GCEX is a trading name of GC Exchange Limited and GC Exchange A/S. GC Exchange Limited is a company incorporated in England and Wales (No11382809) with registered address at 75 King William Street, London. EC4N 7BE. GC Exchange Limited is authorised and regulated by the Financial Conduct Authority (FRN 828730).
Digital asset services are provided by GC Exchange A/S, a company incorporated in Denmark (CVR 43088777) with address at Amager Strandvej 390, 2770, Kastrup. GC Exchange A/S is authorised by the Danish Financial Supervisory Authority as a Currency Exchange (FTID 45020) and registered as a Virtual Asset Service Provider (FTID 17524) under the AML regulation.
GC Exchange FZE is incorporated as a Limited Liability Free Zone Establishment under the Dubai World Trade Center Authority with registration number 1896. GC Exchange FZE has been granted a Virtual Asset Service Provider Licence for the MVP phase by the Dubai Virtual Assets Regulatory Authority.