Online Brokers and Software Developers Realize Potential

Published Sunday, June 07, 2015 -
Online Brokers and Software Developers Realize Potential

The financial sector of the online gambling industry has grown with the expansion of internet betting and some companies are realizing the potential. One software developer that supplies trading solutions to online brokers TechFinancials has revealed a strong year-on-year rise in revenue and operating profit during the 12 months through to December 31, 2014. The company has made a significant increase of 85% over the last financial posting of $8.4 million posting revenues of $15.5 million this year. Pre-tax profit went from a negative of $300,000 to a plus of $800,000. TechFinancials was formed in 2009 to create a simplified trading solution for online brokers wanting to provide a platform for retail customers to trade in Binary Options.

TechFinancials  was also pleased to announce that it during the last year, it was able to enter market in the USA through a collaboration with Cantor Exchange. The firm has also begun to expand its range into the Asian market.

Chief Executive Officer of TechFinancials  Asaf Lahav, commented, “The board is delighted to announce our maiden annual results, which shows a considerable increase in revenue and operating profit. Lahav continued, “The group’s improved operating cash flow, together with the proceeds raised in our IPO, will enable TechFinancials to invest in new products and services, in order to capitalise on the increasingly sophisticated and regulated binary options market.

 “The board is also delighted that TechFinancials have entered several high growth binary options markets in 2015. “Whilst Europe continues to be the main focus of the Group, TechFinancials has made significant progress to penetrate the US, and Asian markets. “The board is confident that through increasing sales and marketing efforts, TechFinancials will successfully leverage on its already established brand in these international markets.”

TechFinancials has made a strategic move to become involved with the Cantor Exchange which has a solid stranding in the US financial markets opening an international portal for up and growing TechFinancials. Collaboration is a key element for significant growth in the software solutions for online brokering businesses.





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