Trading 212 UK Sees Profit Fall 26% in 2023

Trading 212 UK Limited, the FCA regulated entity of online Forex and CFD brokerage Trading 212 Group Limited, has released its financial results for the full year of 2023, unveiling a modest decline in activity and profitability during the year.

The UK arm generated revenues of £95.3 million in 2023, dipping 3% from £98.7 million in 2022. Profit for the year came in at £30.4 million, a decrease of 26% over 2022’s £41.1 million.

Profit from operations in 2023 was £27.7 million, compared to £51.4 million in the previous year. Profit before tax was down from £50.9 million to £36.6 million.

At 2023 end, Trading 212 UK held net assets of £128.1 million, increasing from £120.1 million in the last same period. Total administrative expenses grew from £49.1 million to £71.2 million. Additionally, the total balance of client money bank accounts and client transaction accounts were rose from £286.5 million to £391.2 million, and the total value of clients' custody assets held was up from £1.92 million to £2.97 million.