FCA licensed online broker London Capital Group (or LCG) has reported its financial results for 2025, which included some disappointing but also promising figures for the company.

LCG, which in 2023 moved to an Introducer Broker model under then-new managers Dave Worsfold (CEO) and Matt Basi (Managing Director), reported revenues of £1.69 million (USD $2.3 million) in 2025, down by 18% from £2.07 million in 2024. The company posted a slight net loss of £68.5K in 2025, versus a profit of £478K the previous year.

Core revenues during the accounting period were generated from Introducing Broker (IB) / Partnership agreements with third party providers of spread betting and CFD services, that saw LCG introduce clients to partner firms (mainly to IG Group), who in turn paid LCG a proportion of the clients’ ongoing trading costs.

2025 was LCG’s first full year of operation as a stand-alone IB, having received its final payment from its former parent company, Flowbank, during 2024. Despite the significant headwinds presented by the demise of FlowBank, the company said it achieved 21% year-on-year net revenue growth in its core IB partnership with IG Group.

While LCG reported a small loss for the accounting period, as noted above, the management team said that it is confident that LCG is positioned for a return to standalone profitability in 2026.

LCG is still technically owned by Swiss neobroker Flowbank, which went belly-up in 2024. The company is technically controlled by Flowbank’s liquidator Walder Wyss, which is trying to find a buyer for LCG.

LCG’s income statement and balance sheet for 2025 follow below.