Hirose UK focuses its operations on MT4 by offering trading on foreign exchange and CFDS as well as small binary options. In their recently published results, the company showed a decline in revenues within the UK in light of a highly competitive marketplace.

Hirose UK’s revenues have been affected by the global decrease in the binary options industry which has led the company to report another year of negative results both in profitability and revenues. Although the brokers’ decline in operating expenses, the UK Financial Conduct Authority (FCA) is encouraging the company to shift its strategic focus.

In their annual report, the company highlighted that it is planning to expand on its white label business and give more focus on its B2B operations. This move was prompted by a particular requirement, which the UK watchdog is likely to impose on all brokers and their clients.

The UK Subsidiary has Reported Losses Amounting to 4Million since 2010

In 2016, the overall operations of the Hirose UK decreased with the company’s turnover almost halving. The turnover dropped to 0.5 million ($0.62 million) with almost 1 million of clients’ money being help in the corporate account by the end of March 2017. Compared to the same quarter last year, this amount has decreased substantially as the customers held 1.6 million with the brokerage.

When compared to last year, the losses before taxes amount to 611,078 which is 28 percent higher. All the same, the company was able to cut administrative expenses from 1.4 million used last year to 1.1 million. Since its incorporation, the firm losses amount to approximately 4 million.

Hirose UK realized a shrink in binary options business just like other brokerage companies in the region. The company reported 59,961 held in clients’ accounts as compared to 93,878 which took place by the end of the fiscal year 2016. Consequently, the broad decline in the industry has prevented the company’s proprietary offering for binary options traders from taking off.

During the year, the broker’s operation personnel count increased to 5 employees. Which most likely happened due to the new direction was taken by Hirose UK. Hirose Tusyo Inc. which is the parent company UK-headquartered company got listed in Tokyo earlier this year. The company is valued at approximately $100 million.

Finance Magnates efforts to reach out to the company for a commentary on their expected B2B transition had not received any official response by the time of publication. Only time will tell if the company will recover from its current financial slump. Investors in the company seem hopeful that it will recover because they are still holding on to their ownership of the company.