FxPro to Launch Physical Share Trading

Cyprus-based retail FX and CFDs broker FxPro has announced its intention to introduce trading in physical shares through its FCA licensed UK entity, FxPro UK Limited. Historically, FxPro has focused on offering shares trading via Contracts-for-Difference (CFDs). However, this new initiative reflects the company's strategy to enhance its competitive position against other online CFDs brokers, particularly those like Trading 212 and XTB, which have expanded their offerings to become more "full service."

In a recent regulatory filing that included the release of its 2023 UK financial results, FxPro confirmed that it is "expected to offer to its clients the dealing of physical shares in 2024." This strategic pivot could allow the firm to attract a broader client base seeking direct equity exposure, as retail traders increasingly look for diverse trading options.

The financial results for 2023 show positive growth for FxPro UK, with revenues rising to £1.37 million, a 23% increase from £1.11 million in 2022. The company reported a net profit of £153,000, a significant turnaround from a loss of £615,000 the previous year. However, client funds held in fiduciary capacity dropped to £7.46 million as of December 31, 2023, down from £8.19 million in 2022.