NEWS
Trading 212 UK Limited, the FCA-regulated branch of online Forex and CFD brokerage Trading 212 Group Limited, has unveiled its financial performance for the full year of 2023, revealing a modest downturn in both activity and profitability throughout the period.
In 2023, the UK subsidiary recorded revenues of £95.3 million, marking a slight decrease of 3% from the £98.7 million reported in 2022. Profit for the year amounted to £30.4 million, reflecting a notable decline of 26% compared to the £41.1 million recorded in 2022.
Profit from operations for 2023 totaled £27.7 million, down from £51.4 million in the previous year. Similarly, profit before tax decreased from £50.9 million to £36.6 million.
By the end of 2023, Trading 212 UK held net assets valued at £128.1 million, showing an increase from £120.1 million in the corresponding period. Total administrative expenses rose from £49.1 million to £71.2 million.
Additionally, the combined balance of client money bank accounts and client transaction accounts witnessed a rise from £286.5 million to £391.2 million, while the total value of clients’ custody assets held increased from £1.92 million to £2.97 million.
Trading 212 also recently reported its partnership with Paynetics, a European embedded finance provider, to integrate multi-currency accounts and card payments into its trading services.
