FxPro Chairman’s Statement

FxPro had another record year in 2011. Our breadth of product offering, coupled with our commitment to outstanding customer service, has ensured we are well placed to maximise the opportunities of this most global of markets in 2012.

Our best-in-breed investment products allow both institutional and retail investors access to different asset classes offering uncorrelated returns, and the ability to take advantage of the volatility of markets. Our market is growing around the world, as has been shown by the Bank for International Settlements’ (BIS) triennial surveys. The survey was released in September 2010, and cited that global foreign exchange market turnover was 20% higher in April 2010 than in April 2007. This increase brought average daily turnover to $4 trillion. Our international strategy therefore continues with more new locations, new trading products and new services in the pipeline.

Our 2011 financials illustrate the on-going success of our company with trading volumes up to $1.18 trillion, an 11% increase from $1.07 trillion in 2010 – the second consecutive year of double digit growth. In 2011 FxPro’s business from Asia contributed 51.2% to total trading volumes up from 43.8% in 2010. European trading volumes accounted for 33.6% down from 39.4% in 2010. The Middle East and Africa contributed 12%, with the remaining 3.2% coming from the rest of the world.

The FxPro team, now comprising over 130 people worldwide, continues to provide our clients with outstanding service, enabling our clients to trade real-time through a secure, transparent and dynamic environment, responding to requirements quickly, efficiently and effectively.

We have expanded our geographic presence with the opening of our Australian business – based in Sydney – which will also serve us as base for our operations in Asia.

The launch of our ECN platform – FxPro cTrader- has been a significant move for the business, and off the back of such a compelling offering our trading volumes and profitability continue to grow. We now release our operational metrics on a quarterly basis and they can be viewed at http://www.fxpro.co.uk/group/company/operating-metrics

We have continued in our quest to further cement global recognition of our brand; FxPro’s choice of sponsorship, not only of the FIA World Rally Championships with which we have been involved for some time, is now complemented by our partnerships with Super Rugby, Fulham Football Club and the Asian Football Confederation Champions League. These exciting sports, based on speed, accuracy and an unrelenting quest for results, offers comparable values to those of FxPro.

Not only are we committed to our clients and our employees, we feel the burden of responsibility extends much wider, particularly in Cyprus and the immediate region where FxPro is headquartered, which we consider to be part of our broader community. Part of our commitment to being a responsible company includes our recognition of the importance of our social and environmental responsibilities and we have kicked off a series of initiatives to this end, across the country and beyond. Most recently, FxPro provided a significant financial pledge in support of the Cyprus Red Cross.

We aim to continue to develop our business from its strong foundations, and we are confident that we will continue to benefit from the strength of our global brand and our globally diversified client base. Our commitment to expanding our innovative product offering, continuing to offer investors access to this exciting market and ensuring we meet their every need through our unparalleled service means that our target for 2012 is not only to maintain our current impressive position, but to take the next step towards our vision of becoming the world’s preferred forex broker.

Denis Sukhotin
Chairman