Broker Trading 212 UK Limited, the U.K. unit of broker Trading 212, reported that it ended 2022 with a pre-tax profit of more than 50.8 million pounds.
The unit's revenue last year rose 5 percent to £98.7 million from £94 million in 2021.
At the same time, Trading 212 UK Limited's operating profit fell to 1.7 million pounds from 4.5 million pounds, and administrative costs rose to 49.1 million pounds, according to the Finance Magnates website.
The trading platform's finance costs increased from £265,181 to £918,724, contributing to a more than 9% drop in pre-tax profits.
The broker's net profit from operations in the UK amounted to 41.1 million pounds, down 9% from 45.2 million pounds in 2021.
In addition, last year, Trading 212, which has a significant presence in the EU in addition to the U.K., resumed client registration, which was temporarily suspended in 2021. From August 2022 to the end of the year, the broker attracted 165,968 new clients.
Broker Trading 212 was founded in 2006 in London and offers its clients investment and active trading services in the foreign exchange and stock markets. The company is regulated and licensed by the UK Financial Conduct Authority (FCA) and CySEC in Europe.
