London based Retail FX and CFDs broker ActivTrades plc has released its financial results for 2024, indicating a healthy increase in activity following what was a disappointing 2023 at ActivTrades.

Revenues at ActivTrades rose by 36% in 2024 to £37.6 million (or USD $51.4 million) versus £27.5 million in 2023. Following a £6.7 million loss in 2023, ActivTrades turned a profit of £4.1 million in 2024.

After paying out £11 million in Dividends in 2023, as the company diverted resources to ActivTrades controlling shareholder Alex Pusco’s new online bank StreamBank, the company more modestly paid out just £1.5 million in Dividends in 2024, building up its capital base to over £41 million as at year end 2024.

ActivTrades client base

The Group identified 192,706 new potential clients in 2024, of which 13,285 became customers with funded accounts through the year, an 80% rise from 2023. The Group had 28,898 clients actively trading at the end of the year . This was up 3% from 27,943 at the end of 2023.

During 2024, total deposits from clients equaled £82.8m (2023: £103.4m) and total withdrawals £57.0m (2023: £80.8m). This leaves net deposits 14% up in 2024 at £25.8m (2023: £22.6m). Monthly trading volume, measured as the total notional value traded by Group’s customers, averaged 41.1 yards (USD bn) for 2024, 37% down from 2023.

ActivTrades expenses

The Group’s direct cost of sales increased by 20% to £3.2m (2023: £2.8m), total administrative expenses (excluding FX revaluations) also increased by 9% to £31.5m (2023: 34.8m), largely due to the gradual closure of the company’s Luxembourg entity.

ActivTrades international operations

The Group’s strategy is to retain its customer base through providing excellent customer service, as well as reaching out to more customers via direct marketing campaigns and promotions in the local markets in which it operates. The Group will continue to innovate and to provide new financial products for its customers.

As the customer base has become more spread out across the world and demand has continued to grow, the Group has established entities outside of its headquarters in London. It has previously established operations in the Bahamas (2018), Luxembourg (2021) and Portugal (2022) and Brazil (2023).

During 2024, ActivTrades 0perated one foreign branch in Sofia, Bulgaria. This was established in April 2012 and handles all the technology aspects of the Group’s business, as well as the responsibility for risk control and some back-office services. During 2024, the average headcount in the branch was 126 (2023: 145) with almost half of its employees working in the IT department, which includes software development and IT infrastructure. The services they provide include the development of new products and enhancements to systems and products.

During 2023, a branch in Italy which is used for administrative purposes for Italian customers was transferred from Luxembourg, ActivTrades Europe S.A to the subsidiary in Portugal, ActivMarkets Empresa de Investiménto S.A.

ActivTrades’ 2024 income statement and balance sheet follow below.