Trade Nation, a leader in spread betting and contracts for difference (CFD), has reported an impressive near 300% rise in profit from its UK business, ending the financial year 2022 in high spirits. The firm posted a profit of £1.2 million, significantly up from the previous year’s £297,000 figure.
UK Operations for Trade Nation Show Strong Performance
The company’s most recent annual report, publicized by the UK Companies House on Wednesday, paints a picture of robust growth across key figures. Trade Nation’s revenue, for example, leaped by 42% from £9.9 million in 2021 to £14 million last year.
In addition, the company’s operating and pre-tax profits surged by 189% to reach £1.2 million, a drastic increase from the previous year’s £427,000 and £434,000, respectively. However, this growth was paralleled by increased administrative expenses, which jumped from £9.9 million to £12.5 million.
Trade Nation’s UK business review reveals continuous growth in client numbers in the recent fiscal year. The company noted its successful acquisition of new clients “at commercially viable costs.”
Trade Nation highlighted its commitment to growing the Trade Nation brand, building on the success of its former brand, Core Spreads. The company aims to improve customer experience, boost retention rates, and nurture ongoing brand loyalty.
Trade Nation Eyes Expansion
Recently, Trade Nation secured a new license in Seychelles, extending its footprint beyond the UK, Australia, the Bahamas, and South Africa. The firm intended to reach more customers with its trustworthy and competitive service.
The broker has been making strides in the sports industry, most notably by becoming the sleeve sponsor of Aston Villa, an English football club, in June—a sponsorship agreement followed between the two English cricket teams.
In August of the same year, the broker achieved another sponsorship victory, aligning with English football club Wolverhampton Wanderers FC as the official FX trading partner for the 2022/23 season.
Russell Jones, Wolves’ General Manager of Marketing & Commercial Growth, praised the partnership: “Trade Nation’s journey from a low-cost start-up to a globally recognized trading platform mirrors Wolves’ values of ambition and determination.”
