In 2023, TRADE.com in the UK achieved higher revenue and profit and increased the value of its assets compared to the previous year. Trade Capital UK Ltd (TCUK), the operator of the FX/CFD broker, earned almost 60% more than in 2022.

TRADE.com UK Increases Revenue and Net Profit

According to the 2023 report published in the UK Companies House, the FCA-licensed company TCUK achieved revenue of £892,377 in 2023, compared to £759,240 in 2022, representing an 18% increase.

While maintaining nearly unchanged direct expenses and reducing administration expenses, this helped more than double the operating profit, which jumped from £154,569 to £306,411. This also translated into a nearly 60% higher net profit, growing from £140,694 to £218,325 in 2023.

The company also reported information about its total assets, which increased to almost £700,000 compared to the previous year.

It's worth noting that these results only pertain to the UK part of the TRADE.com brand. In other parts of the world, it is managed by separate entities, including Trade Capital Markets Ltd (TCM), licensed in Cyprus and South Africa.

Prop Trading and Italian License

This year, the company also expanded its scope of operations by acquiring a local license in the Italian market. The Italian operation is conducted under the locally established entity Trade Capital Italia SIM, which obtained authorization as an investment services firm from Consob. The platform offers services to both retail and professional clients.

“We see Italy as a very strategic market,” Roei Gavish, the Group CEO of TRADE.com, told Finance Magnates. “We believe a local setup with a strong banking relationship will create a big opportunity.”

In June, the company announced that it was adding prop trading to its offering under the TRADE.com challenges brand. According to the Trade.com Challenge website, the broker offers the newly launched service under Tplus Technologies Limited, a corporation registered in Cyprus. This entity is different from TCM, the Cyprus-licensed entity that operates the TRADE.com brand in the European Union.

“Our strategy is offering our own secure, reputable and fair environment—like we always offer,” Gavish commented. “The fact that we're coming from a heavily regulated space will ensure clients are treated well.”

At the end of last year, Finance Magnates reported that TRADE.com underwent a management buyout as part of a restructuring plan. The ongoing restructuring includes launching new product lines and accelerating Trade.com's development in new regions, with a particular focus on Italy, thanks to the recently acquired CONSOB license, as well as on Latin America (LATAM) and emerging markets.