Finalto Financial Services, the London-based brokerage arm of liquidity provider Finalto, paid a $10 million dividend in 2025 after several years of retaining its earnings. Its accounts, filed with Companies House on September 15, also show the company decided to wind down its retail business.
Money the company owed to clients fell 39% over the year to $102.9 million, according to the filing, which counts both margin deposited for trading and the profit or loss on those trades. Cash at bank dropped to $179.1 million from $231.9 million.
London's trading industry is coming home!
The entity became Finalto's main UK trading company after absorbing the remaining clients of sister firm Finalto Trading at the end of 2024. The 2025 accounts are its first full year in that role.
They sit alongside separate filings for Finalto Trading and for Dowie Investments (UK), the holding company that consolidates Finalto Financial Services with a Singapore unit.
How the Retail Wind-Down Works
The filing lists the steps taken so far: continued engagement with the Financial Conduct Authority (FCA), "enhanced client outreach to support the return of funds," oversight by a Consumer Duty committee and ongoing monitoring of residual client balances.
The directors said the company still meets its Consumer Duty obligations to retail clients who remain on its books. The report gives no end date for the process.
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Finalto says its customers include regulated brokers, fund managers, hedge funds, banks, family offices, corporate entities and non-retail private individuals. A further $39.3 million sat in segregated client accounts that are not on the balance sheet, against $40.4 million a year earlier.
UK Peers Report Mixed 2025 Results
Equiti Capital UK, the FCA-regulated arm of Equiti Group, paused onboarding of new medium- and high-risk clients, according to its 2025 accounts, reported in August. Its net trading revenue fell 24% to $24.4 million and net profit dropped 94%.
FxPro's UK unit went the other way on profit. Its filing showed trading volume up 7% at $87 billion and profit more than doubled, helped by bank interest, while revenue slipped.
Finalto Financial Services put its own client trading volume at $1.9 trillion, up from $1.3 trillion. It said that figure includes some clients onboarding with other Finalto entities.
Cost Cuts Lift Pre-Tax Profit
Turnover rose 7% to $70.4 million. Administrative expenses fell 20% to $15.5 million.
Pre-tax profit rose 30% to $15.1 million, which the company attributed to savings from the client migration and lower administrative costs. That is still below the $21.5 million it reported for 2023. Net profit rose 28% to $13.1 million.
| Finalto Financial Services ($ million) | 2025 | 2024 | Change |
|---|---|---|---|
| Turnover | 70.4 | 65.8 | +7% |
| Administrative expenses | 15.5 | 19.2 | -20% |
| Operating profit | 17.1 | 12.5 | +37% |
| Pre-tax profit | 15.1 | 11.6 | +30% |
| Net profit | 13.1 | 10.2 | +28% |
| Owed to clients (year-end) | 102.9 | 167.7 | -39% |
| Average employees | 54 | 64 | -16% |
Average headcount fell to 54 from 64, and staff costs dropped 12% to $10.3 million. Regulatory capital rose to $66.5 million, a surplus of $54.6 million over the requirement.
When the accounts were approved in April, the directors said pre-tax profit so far in 2026 was ahead of budget, adding that there is "no certainty that market conditions will continue as they have to date."
The Rest of the UK Group
Finalto Trading, which handed its clients over in 2024, reported profit of $4.7 million, up from $565,209, on turnover that fell to $4.8 million from $6.7 million. Its directors attributed the profit to risk management activities.
The board of Finalto Financial Services also changed. Matthew Maloney, who stepped down as group CEO in January 2025, left the board that month, and five directors joined between June and July 2025.
The ultimate owner is Gopher Investments, a Cayman Islands company with no single controlling shareholder, which bought Finalto from Playtech for $250 million in July 2022.
Dowie Investments (UK), which consolidates Finalto Financial Services and Finalto Asia, a unit regulated by the Monetary Authority of Singapore (MAS), reports in pounds.
Its pre-tax profit rose to £8.4 million (about $11.3 million) from a restated £2.1 million, while revenue fell 3% to £56.3 million.
Dowie ended 2025 with negative equity of £31 million. Its director attributed that to a deep discounted bond owed to parent company Finalto Group Limited, carried at £75.4 million and due for repayment at £79.1 million in January 2027.
