Taurex Limited (formerly Zenfinex Limited), the London-based FCA-regulated forex and liquidity provider, reported gross revenue of £1.9 million for the year ended 31 December 2024, representing a 129% increase from £848,000 in the prior year, according to its Companies House filing.
- Revenue (Gross): £1.9 million (+129% year-over-year)
- Net Loss After Tax: £1.7 million (improved 25% from prior year loss of £2.27 million)
- Operating Cost Base: £3 million (stable year-over-year)
- Dividends: None paid; no final dividend recommended
The company attributed the substantial revenue growth to investments in team infrastructure and technology deployed in prior years. Primary revenue drivers include spread markup revenue, commissions, swap markup premiums, risk management gains or losses, and white-label solutions for MT4 and MT5 brokers targeting institutional clients.
Despite maintaining stable operating costs at £3 million, Taurex reported a net loss of £1.7 million for 2024, an improvement of 25% compared to the prior year’s loss position. The independent auditors flagged material uncertainty regarding going concern, citing the net loss and other factors detailed in note 1.2 of the financial statements.
The company’s strategic focus for 2025 centers on institutional business expansion. In late 2024, Taurex hired two institutional sales professionals, with additional hires planned for Q3 2025. The filing indicates new institutional clients were onboarded in December 2024 and early 2025, with revenue targets established by the Global Head of Sales.
Directors Z Mahmood and V Ozugur (appointed April 2024) signed the report on 22 April 2025. Former director R.O. Dytz resigned on 30 August 2024.
