GC Exchange Limited, a UK-based prime brokerage specialising in online trading of FX, indices, commodities, and cryptoassets for professional and institutional clients, has published its financial results for the year ended 31 December 2024.

Higher Turnover, Lower Loss Reported in 2024

Turnover rose by 64% to £3.76 million. Despite this growth, the company reported a pre-tax loss of £232,567, narrowing from the previous year’s loss.

The improvement came amid a sharp rise in expenses. Cost of sales more than doubled, while administrative expenses increased by 24%, driven by intra-group expenses, consulting fees, staff costs, and foreign exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term revaluation losses.

Revenue growth was mainly supported by a 315% rise in crypto CFD trading volumes. This reflected a recovery in the cryptoasset market after the “crypto winter.” The company noted a positive revenue trend starting from the last quarter of the year, which it expects to continue into 2025.

“Our significant increase in turnover was also replicated in our Dubai and Copenhagen based entities, resulting in a strong year for the GCEX Group,” Lars Holst, Founder and CEO, GCEX Group, commented.

“Our model remains robust, we don’t run risk and don’t do lending or borrowing, and we continue to have significant excess Tier 1 capital in our UK entity,” he added. “Looking ahead, we are confident that our strong partnerships and ongoing technological innovation will enable further growth, both in the UK and globally.”

You may find it interesting at FinanceMagnates.com: GCEX Director Touts Simplicity With New Allocation Tool for Fund Managers.

GCEX Launches Portal

After receiving a tax credit, GCEX reported a net loss of £172,789, down from £279,622 in 2023. Shareholders’ funds stood at £4.7 million at the end of 2024, slightly lower than the previous year.

During the year, the company diversified its client base, expanded its execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term-only offering, and added new liquidity providers to its FX and crypto services. It also launched a client portal to enhance client experience and improve internal operations.

The Board commented: “The core purpose of GC Exchange is to deliver sustainable value to shareholders over the medium and long term by offering best-in-class brokerage services across financial products to institutional and professional clients.”

Integrating Fireblocks for Institutional Crypto Trading

Meanwhile, GCEX has integrated Fireblocks' enterprise platform to enhance its institutional cryptocurrency trading capabilities. This partnership allows clients in Denmark and Dubai to use Fireblocks' infrastructure, including its Policy Engine for transaction control, multi-level authorization, and compliance. The integration provides access to Fireblocks' network, offering instant settlement and addressing key operational challenges in institutional crypto trading.