eToro (UK) Limited reported net income of $177.7 million for the year ended Dec. 31, 2024, a 41% increase from $125.7 million in the prior year, according to accounts filed with Companies House.
The FCA-regulated social trading platform recorded trading commissions of $145.9 million, up 38% from $106 million in 2023, driven by renewed optimism among retail investors and a strong Q4 crypto bull run. Other commissions contributed $23.9 million, up from $13.5 million.
Operating profit rose to $6.4 million from $1.4 million in 2023, while profit before tax increased to $6.4 million compared with $3.2 million the previous year. Net profit after tax reached $6 million, up from $2.5 million.
Administrative and operating expenses totaled $171.3 million, up from $124.3 million, with intercompany fees to group entities accounting for $141.8 million. Staff costs rose to $9 million from $7.9 million, while the average headcount decreased slightly to 59 employees from 60.
Client money held in a fiduciary capacity totaled $472.1 million at year-end, up 47% from $320.5 million. Client custody assets reached $1.77 billion, compared with $60.4 million in 2023, reflecting a new sub-custodian agreement with eToro (Europe) Limited.
The company’s Tier 1 capital stood at $44.3 million, up from $38.5 million. No dividends were paid during the period, and directors noted the eToro Group has filed an SEC registration statement for a potential initial public offering.
