Binary trading platform provider TechFinancials says that results for the first half of 2016 should be in line with expectations. The companies B2B platform business saw revenues of growth of %30 year on year. Five new software licensing clients signed up and the focus remains in emerging markets in particular – Asia.
Simplified Online Trading Technologies
TechFinancials is a technology company developing licensed simplified online trading platforms for brokers that allow traders to trade on binaries, forex, CFDs and more. The market is a growing market that shows lots of growth and TechFinancials has a technology advantage and shows much growth.
In 2015 the B2B on TechFinancials showed strong perfomance, so TechFinancials added additional brands, although it was a difficult year for the B2C business and at the end of 2015 some of the problems were fixed and this is why the growth in 2016 has happened. TechFinancials has looked for partners in the B2C region that have a strategic advantage in strong potential reasons for growth and at the end of 2015 TechFinancials announced a joint venture with OptionFortune that started in January 1st 2016 and the results are tremendously encouraging.
2016 is in line with market expectations for 2016 and are showing an improved performance. In terms of the joint ventures in the B2C business and the 5 new contracts in B2B licensing TechFinancials is showing growth in joint partnerships and much of their revenues are coming from the binary options trading platform and forex trading and CFDs simplified trading platforms for non-professional traders.
Mobile Trading Platform Provider & Focus on Asia
There is a tremendous growth in the amount of traders trading through mobile devices and these trends give challenges and require investment in R&D. What we are seeing in Asia for example is that the number of traders trading on mobile is on the rise, in Europe there are more traditional infrastructure. The focus is on Asia and there is much growth in Asia but most of the business is from the EU and other areas.
Will Brexit Have Any Impact on Growth?
Brexit is not expected to have any significant impact as brokers in the EU are not governed by FCA regulation. Financial instruments trading in the EU is governed by MiFID, the European law on financial trading.
What More is to Come in 2016 From TechFinancials?
2016 has seen a large turnaround for TechFinancials and B2C problems have been largely corrected, TechFinancials is showing growth in 2016, cash position is showing improvement and new products are in the process of rolling out. There is strong growth in 2016 and growth that will be going forward into 2017. TechFinancials has signed new agreements with operators in Asia and one of the major brokers using the TechFinancials online trading platform is about to go into the USA market along with a new partnership with Cantor Fitzgerald.
The USA market also has major potential and along with the growth in mobile trading should be showing great results in the rest of 2016 and also in 2017.