Capital.com’s UK regulated business reported a sharp fall in revenue and profit for 2025, after an internal group reorganisation moved some employees and operational activities into a separate group service company.
The FCA-regulated entity reported a weaker set of headline figures for 2025, with net trading revenue falling to £18.8 million from £40.9 million a year earlier.
Profit also declined, although the accounts show that part of the movement reflected a changed operating structure inside the group rather than a discontinued business line.
The largest shift came from rebate income received from group companies, which remained the main revenue line but fell sharply year on year. At the same time, income from other services increased, while revenue share payable declined.
The accounts cover Capital.Com (UK) Limited only, not consolidated results for the wider Capital.com group.
| Revenue/profit item | 2025 | 2024 |
|---|---|---|
| Net trading revenue | £18.8m | £40.9m |
| Gross profit | £13.4m | £39.6m |
| Profit from operations | £604,473 | £6.2m |
| Profit before tax | £521,601 | £5.9m |
| Profit for the year | £1.49m | £4.45m |
| Income from rebates | £18.4m | £42.4m |
| Revenue share payable | £1.17m | £2.22m |
| Income from other services | £1.28m | £209,01 |
Headcount falls after internal reorganisation
A notable operational change came in staffing. Capital.Com (UK) Limited reported an average monthly headcount of 30 employees in 2025, compared with 116 in 2024. Staff costs fell to £5.0 million from £19.5 million.
The annual report said the company underwent an internal reorganisation during the year: certain employees and operational activities moved to a newly established group service entity, though they continued supporting the same group-wide and client-facing operations as before.
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The company said the change altered the basis on which the UK entity is remunerated by the group, and that the lower revenue and total assets compared with the prior year reflected this shift rather than a discontinuation of any business activity or product line.
Administrative expenses fell to £12.8 million from £33.4 million, largely reflecting the smaller reported staff base after the internal reorganisation. Staff costs accounted for the biggest change, dropping to £5.0 million from £19.5 million.
Other cost lines moved differently. Direct expenses increased to about £5.4 million from £1.3 million, mainly as marketing and promotion fees and other direct costs rose year on year.
| Expense item | 2025 | 2024 |
|---|---|---|
| Administrative expenses | £12.8m | £33.4m |
| Staff costs | £5.0m | £19.5m |
| Direct expenses | £5.4m | £1.3m |
| Marketing and promotion fees | £2.45m | £69,817 |
| Other direct costs | about £2.49m | about £608,000 |
| Support fees | £169,499 | £315,054 |
| Payment service provider fees | £281,304 | £304,854 |
Client Funds Rise Despite Lower Reported Revenue
The balance sheet told a different story on client money. Segregated client funds rose to £21.7 million at the end of 2025, from £19.7 million a year earlier. The company also paid a £4.0 million dividend during the year, compared with none in 2024.
Its regulatory capital note stated that the company met its FCA capital requirements throughout the year. The filing shows two separate developments within the UK entity: lower reported revenue and profit following the change in group operating structure, and higher segregated client funds at year-end.
That distinction matters, because the 54% revenue decline applies to Capital Com (UK) Limited, not the wider Capital.com group.
