London based Retail FX and CFDs broker Fortrade has released its financial results for 2022, indicating continued growth on the top line but a slight decrease in profitability.

Revenues at Fortrade came in at an all-time best of £32.3 million, up 14% from £28.3 million in 2021. Net profit for the year was £824K, down 23% from £1.1 million in 2021.

Fortrade was established in 2013, and received its FCA license the following year. The company installed a new CEO in mid-2020, former LMAX and CitiFX executive Chris Warburton.

In addition to the UK company, the Fortrade group operates licensed subsidiaries in Belarus, Australia, and Canada, and an offshore operation domiciled in Mauritius. The company has a back office operation in Israel, Fort Securities Israel Ltd. Fortrade also set up a subsidiary in Cyprus in 2019, Fortress Cyprus Ltd, and received a CySEC license in mid 2020 as part of its plan to prepare for Brexit and be able to serve EU clients with the end of EU-UK license passporting in 2021.

Fortrade is controlled by Liechtenstein based investment firm Audina Treuhand AG.