OANDA Europe Limited reported a dramatic turnaround in profitability for the year ended 31 December 2024, with profit after tax jumping to £1.1 million from £127,831 in 2023—a 738% increase. The leveraged trading and margin business also grew revenue to £18.5 million, up from £16.3 million the prior year, a 13.2% year-over-year gain.
- Revenue: £18.5 million (+13.2% year-over-year)
- Operating Profit: £1.5 million (vs. £227,336 prior year)
- Profit Before Tax: £1.5 million (vs. £227,336 prior year)
- Net Profit After Tax: £1.1 million (vs. £127,831 prior year)
- Client Money Held: £25.8 million (vs. £29.4 million prior year)
- Average Headcount: 54 employees (vs. 57 prior year)
- Dividend Distribution: £450,000 paid to parent OANDA Global Corporation
The London-based financial conduct authority-regulated firm, which operates the FxTrade platform for contracts for difference and spreadbets on currencies, equities, bonds, commodities and indices, achieved improved financial performance despite lower market volatility in 2024. The company attributed gains to better client acquisition and retention.
Regulatory capital surplus stood at £4 million under investment firm prudential regime requirements, down from £5.2 million prior year. Cash holdings increased to £8.0 million from £5.9 million. The company maintained a tight cost structure, with administrative expenses rising modestly to £17.5 million.
Post-balance-sheet, on January 30, 2025, FTMO Group SE signed a share purchase agreement to acquire the OANDA Group, subject to regulatory approvals including UK Financial Conduct Authority clearance.
