FNG Exclusive… FNG has learned via regulatory filings that FCA licensed FX, CFDs, and spreadbetting broker Trade Nation Financial UK Ltd has seen a drastic decline in its top and bottom line for fiscal 2021, with Revenues down drastically and the company turning from a healthy profit in 2020 to a net loss in 2021.

For the 12 months ended November 30, 2021, Trade Nation brought in £9.9 million in Revenue, down 43% from £17.4 million the previous year. The company’s 2020 profit of £6.2 million turned into a net loss of £296,898 in 2021.

Trade Nation Financial UK Ltd used to be known as Finsa Europe Ltd, with the company’s renaming happening in early 2022. The group’s main retail brokerage brand was also changed in a major rebrand, from Core Spreads to Trade Nation and website tradenation.com, although its old corespreads.com site still is functioning.

Management noted that lower market volatility in 2021 resulted in reduced turnover under its FCA license, but it remains a key operational jurisdiction for the business and investment and development of the UK entity will continue throughout the coming year. Whilst turnover fell in 2021, other related entities operating in different jurisdictions, which are supported by the company, continued to see strong growth in both customer numbers and revenue. The group has subsidiaries licensed in Australia, South Africa, and the Bahamas.

Trade Nation and its various brands are controlled by UK entrepreneur Jasper White, who bought control of the company (then known as The Trader Management Company Limited) in 2014. Jasper White was previously CEO of sports betting concern Gambit Research. The company has been run day-to-day by CEO Stuart Lane since 2016.

Trade Nation UK’s 2021 income statement follows: