FxPro UK Reports Significant Volume and Revenue Increase in 2024 Financials

The UK unit of FxPro handled $80 billion in notional trading volume during 2024, representing a 70% increase compared to the previous year. According to the company, this rise in trading volume was primarily driven by market volatility attributed to the "Gaza-Israel conflict."

The latest Companies House filing for FxPro UK Limited stated, "This geopolitical uncertainty triggered a sharp rise in client activity across multiple asset classes, leading to higher transaction volumes and increased revenues." The surge in trading demand contributed to the company's revenue reaching £1.94 million, which was approximately 42% higher than the £1.37 million reported in the previous year. The filing noted that the majority of this revenue was generated from intercompany charges, with £27,038 originating from fees on inactive accounts. It further specified, "The revenue of the company is derived from FxPro Global Markets Limited and is based entirely on a 10% cost-plus service agreement between the two entities."
In its expenses, FxPro UK significantly reduced the commission paid to introducing brokers, decreasing it to £122,857 from £215,144 in 2023. However, higher transaction processing fees contributed to an increase in overall administrative expenses. After accounting for all income and expenses, FxPro UK ended the year with a pre-tax and net profit of £155,139. This figure represents a notable increase from the previous year's pre-tax profit of £89,613. After a tax credit, the company reported a net profit of £153,103.