Trade Nation, a spread betting and contracts for difference (CFD) provider, saw the profit from its UK operations jump nearly three-fold during the financial year 2022 that ended in November. The company’s profit topped £1.2 million during the period, soaring from approximately £297,000 seen in the previous fiscal year.

Trade Nation Sees Solid Growth in the UK

Details in the company’s latest annual report, which was published by the UK Companies House today (Wednesday), show that the online trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term provider posted solid growth in its major metrics last year. For instance, the firm’s turnover during the period shot up 42% from £9.9 million in 2021 to £14 million.

Furthermore, Trade Nation’s operating profit skyrocketed 189% to £1.2 million, which is up from £427,000 in the prior period. In addition, the firm’s profit before tax ascended to a similar height, reaching £1.2 million from £434,000.

However, spread betting experienced a significant increase in its expenditure, which jumped higher alongside the turnover and profit. Specifically, administrative expenses towered to £12.5 million, rising from £9.9 million in the previous year.

Providing a review of its UK operations, Trade Nation noted that it continued to grow the number of its individual clients during the last fiscal year. The CFD provider added that it successfully acquired new business “at costs that remain commercial.”

“The company’s focus is to grow its brand, Trade Nation, building on the successes of its previous brand, Core Spreads, and to further enhance the customer experience to increase retention rates and encourage continued brand loyalty,” Trade Nation explained.

Trade Nation Seeks Growth

Meanwhile, Trade Nation obtained a new license in Seychelles last month, expanding its presence beyond the UK, Australia, the Bahamas and South Africa. The online trading platform noted that it plans “to provide even more customers with a competitive service they can trust.”

"We felt there wasn't enough transparency in the market."

Our CEO, Stuart Lane, on how Trade Nation helps traders by levelling the playing field and removing hidden charges.#WeAreTradeNation
*84% of CFD clients lose money pic.twitter.com/20DvItfLUM

— Trade Nation (@ItsTradeNation) August 14, 2023

In recent months, the broker has gradually built up its presence in the sports industry. In June, it emerged as the sleeve sponsor of Aston Villa, an English football club. The deal followed an earlier sponsorship arrangement with two English cricket teams.

The tea is hot @AVFCOfficial! ☕️ 📣 ⚽​

Stu, our CEO, spills the tea on our new and exciting Premier League Partnership with ASTON VILLA! 🎉 ​

Stay tuned and follow us on this exciting journey! ​

#AstonVilla #TradeNation #spillthetea #partnership pic.twitter.com/JbzQFTPNpn

— Trade Nation (@ItsTradeNation) June 22, 2023

Similarly, the broker in August last year secured a deal with another English football club, Wolverhampton Wanderers FC, becoming the team’s official FX trading partner for the 2022/23 season, Finance Magnates reported.

“In just four years Trade Nation has grown from a small, low-cost, start-up Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term to a global award-winning trading platform – growth that can only be achieved with progressive thinking and determination, two values shared with Wolves,” Russell Jones, Wolves' GM of marketing & Commercial Growth, commented on the deal at the time.

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