The broker generated about £14.8 million from interest income.
Higher marketing costs also pushed its administrative expenses 45 percent higher.
After experiencing record-breaking years, Trading 212's UK subsidiary saw a slowdown in revenue growth and profits in 2023. The brokerage operator reported a 3 percent decline in revenue and a 28 percent drop in pre-tax profits for the year.
Stabilisation after Record-Breaking Years
According to the latest Companies House filing, Trading 212 UK Limited's 2023 revenue was £95.3 million, with a pre-tax profit of £38.6 million, down from £50.9 million in the previous year. The net profit after taxes was £30.4 million, compared to £41.1 million in 2022.
Despite the declining figures, the company noted that 2023 marked “a continued stabilisation in the revenue following on from the exponential growth seen between 2019 and 2021.”
The UK company significantly benefited from higher interest rates, generating about £14.8 million from interest income, a substantial increase from £451,994 in the previous year.
However, the company's profits were impacted by increased administrative expenses, which climbed 45 percent to £71.2 million due to heightened marketing activities. The company resumed its marketing efforts in the last quarter of 2022 and spent over £7.4 million on research and development.
Non-Financial Metrics Improved
Trading 212, established in Bulgaria in 2004 as Avus Capital and incorporated in the UK in 2013, primarily focuses on the UK and the European Union. It operates through three entities: one in the UK and two in Cyprus and Bulgaria. The group has yet to release 2023 figures from its non-UK businesses.
The broker is shifting its focus from contracts for differences (CFDs) to stockbroking. “While operating both a stockbroking and CFD platform, T212’s growth strategy remains focused on the stockbroking part of the business and growing the value of client money and client asset balances,” the filing noted.
Trading 212 highlighted several improvements in non-financial metrics: the number of monthly active users increased by 28 percent, and monthly trades rose by 32 percent. The total value of client deposits and client monies jumped by 22 percent and 37 percent, respectively, with client custody assets increasing by 55 percent.
The broker is also expanding its products and services. It recently launched a multi-currency payment card for its UK customers and introduced interest on uninvested cash, alongside a stock lending program.
“T212 continues to review new product ideas such that it can further contribute and support the investing public in gaining access to the wider financial markets and enabling them to take control of their financial undertakings, investment portfolios, and ultimately to build wealth for their futures,” the broker added.
After experiencing record-breaking years, Trading 212's UK subsidiary saw a slowdown in revenue growth and profits in 2023. The brokerage operator reported a 3 percent decline in revenue and a 28 percent drop in pre-tax profits for the year.
Stabilisation after Record-Breaking Years
According to the latest Companies House filing, Trading 212 UK Limited's 2023 revenue was £95.3 million, with a pre-tax profit of £38.6 million, down from £50.9 million in the previous year. The net profit after taxes was £30.4 million, compared to £41.1 million in 2022.
Despite the declining figures, the company noted that 2023 marked “a continued stabilisation in the revenue following on from the exponential growth seen between 2019 and 2021.”
The UK company significantly benefited from higher interest rates, generating about £14.8 million from interest income, a substantial increase from £451,994 in the previous year.
However, the company's profits were impacted by increased administrative expenses, which climbed 45 percent to £71.2 million due to heightened marketing activities. The company resumed its marketing efforts in the last quarter of 2022 and spent over £7.4 million on research and development.
Non-Financial Metrics Improved
Trading 212, established in Bulgaria in 2004 as Avus Capital and incorporated in the UK in 2013, primarily focuses on the UK and the European Union. It operates through three entities: one in the UK and two in Cyprus and Bulgaria. The group has yet to release 2023 figures from its non-UK businesses.
The broker is shifting its focus from contracts for differences (CFDs) to stockbroking. “While operating both a stockbroking and CFD platform, T212’s growth strategy remains focused on the stockbroking part of the business and growing the value of client money and client asset balances,” the filing noted.
Trading 212 highlighted several improvements in non-financial metrics: the number of monthly active users increased by 28 percent, and monthly trades rose by 32 percent. The total value of client deposits and client monies jumped by 22 percent and 37 percent, respectively, with client custody assets increasing by 55 percent.
The broker is also expanding its products and services. It recently launched a multi-currency payment card for its UK customers and introduced interest on uninvested cash, alongside a stock lending program.
“T212 continues to review new product ideas such that it can further contribute and support the investing public in gaining access to the wider financial markets and enabling them to take control of their financial undertakings, investment portfolios, and ultimately to build wealth for their futures,” the broker added.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!