Fortrade Posts 37% Jump in Operating Profit on Higher Trading Volumes

Fortrade reports a 37% rise in operating profit to £1.34M in 2024, driven by higher trading volumes and a stronger balance sheet.

Key Points:

• Operating profit surged 37% to £1.34M as revenue rose 7% to £21.2M.
• Cash holdings more than doubled to £6.4M, with the workforce up 79%.

Fortrade Limited, the FCA-regulated CFD broker, reported a strong financial performance for 2024, driven by increased client activity and improved operational efficiency.

The London-based brokerage recorded a 37% rise in operating profit, reaching £1.34 million, up from £921,000 in 2023. Revenue increased 7% to £21.2 million, while net profit climbed to £1.3 million, reflecting stronger engagement across its trading platform.

Fortrade attributed the performance boost to higher trading volumes despite what it described as “difficult market conditions and intensifying competition” in its core markets.

Fortrade Posts 37% Jump in Operating Profit on Higher Trading Volumes

The company’s gross profit surged 22% to £5.4 million, outpacing revenue growth, which indicates tighter control over direct costs amid increased activity.

The broker nearly doubled its workforce to 43 employees, up from 24 last year, as it scaled operations. Employee costs rose to £2.3 million, from £1.8 million in 2023.

Fortrade also strengthened its balance sheet, with net assets increasing to £13.9 million and cash reserves more than doubling to £6.4 million. The company maintained a debt-free position throughout the period.

While Fortrade expanded its operational footprint through subsidiaries in Israel and Serbia, the company noted that future profitability will primarily come from its core UK market. No dividends were declared for 2024, as earnings were retained to fuel growth initiatives.

The brokerage remains cautious about 2025, citing competitive pressures and macroeconomic uncertainty. “The Group continues to look for opportunities overseas although the directors expect that the Group’s future profitability will be primarily from its existing core market,” Fortrade said in its filing.

Fortrade is ultimately controlled by Liechtenstein-based Audina Treuhand AG through its parent company, Alba Capital SA. The broker’s revenues stem mainly from spreads, commissions, and financing charges on CFD positions, with additional income from interest on cash deposits, which doubled to £161,000 amid higher interest rates.

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