HYCM recently released its 2022 financial report。According to the report, the company's annual revenue increased by 14%。

company inRevenue generated in 2022 was £1.88 million, compared to £1.65 million in 2021。Similarly, the UK-based broker has amassed over 69.Operating income of £70,000。Operating income in 2022 is huge compared to just £5,000 in 2021。

However, the rapidThe broker's operating expenses also rose 76 percent, according to the HYCM review.。In 2022, HYCM's operating expenses were £2.57 million, compared to £1.46 million in 2021.。

As a result, the company's net profit is only£3,706, compared to £196,185 in 2021。HYCM issued an official statement on the staggering figure, saying the company was pleased with the past year.。

According toHYCM said that the increase in turnover in 2022 is only a one-time contribution to balance administrative expenses.。Thus, the broker is experiencing net growth if exchange rate differences are not taken into account。

HYCM is a global brand for a range of entities such as HYCM Capital Markets (DIFC), HYCM Europe, HYCM Capital Markets (UK) and KYCM Limited。The company has extensive presence in the Middle East, Europe and Asia。

In fact,HYCM named Best Forex Broker in UAE a year ago。The company recently launched its mobile app called HYCM Trader to assist users.。The app is designed to be beginner friendly, allowing new investors to experience trading。

Since initiatives like this take time to produce results,HYCM expects 180-degree turnaround in next quarter。The increasing popularity of mobile applications is a reliable indicator of the eventual proliferation of HYCM。