FxPro UK Achieves Financial Turnaround in FY23 with Revenue Up 23%

FCA-regulated online financial services provider FxPro UK Limited has presented its report with the financial statements for the period ended 31 December 2023. The company’s turnover in FY23 was £1,369,892, which increased by approximately 23% from £1,112,665 reported in FY22.

In FY23, the company experienced a significant financial turnaround, shifting from a loss of £614,558 in the previous year to a profit of £153,103. The London-based retail broker also converted an operating loss of £611,497 into a profit of £93,283. Despite an increase in distribution costs from £212,780 to £331,517, FxPro successfully reduced its administrative expenses from £1,511,382 to £1,182,292.

During this period, FxPro UK also boosted its cash reserves from £2,566,687 to £3,609,861, contributing a 4% growth in its total assets, minus current liabilities, from £3,408,342 to £3,561,445.