FNG Exclusive… FNG has learned via regulatory filings that FCA licensed FX, CFDs, and spreadbetting broker Trade Nation Financial UK Ltd has seen a decline in Revenue in 2023 (fiscal year ended November 30), leading to a £2.2 million Net Loss for the year at the company.
Following a strong 2022 at Trade Nation, for the 12 months ended November 30, 2023, Trade Nation brought in £13.4 million in Revenues, down by 5% from £14.1 million in the previous year. The company’s 2022 Net Profit of £1.2 million turned into a Net Loss of £2.2 million in 2023. We would note that the company still remains well below the pace it was on in 2020, when Trade Nation posted Revenues of £17.4 million and net profit of £6.2 million.
Client funds held by Trade Nation rose to £4.5 million as at year-end 2023, from £3.5 million in 2022.
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.
Management notes that the company’s focus is to grow its own brand, Trade Nation and to further enhance the customer experience to increase retention rates and encourage continued brand loyalty. The UK retail market resulted in an increased turnover under its FCA license, and continues to be a key operational jurisdiction for the business. Whilst overall turnover including management charges fell in 2023, as noted above, other related entities operating in different jurisdictions, which are supported by the company, continued to see growth in customer numbers. The investment and development of the UK entity, in particular staff headcount and marketing advertising, has resulted in an overall net loss in 2023. The business however remains optimistic about the future and will continue to invest in new opportunities as they arise.
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.
During 2023 the Trade Nation group added a Seychelles licensed entity, and signed on as a sleeve sponsor of EPL club Aston Villa FC.
Trade Nation’s 2023 income statement and balance sheet follow:
