Swissquote UK Loss Grows 48% with Revenue Decline

Swissquote UK loss highlights Brexit’s lasting impact as revenue drops, trading volumes fall and costs rise significantly. The British subsidiary of Swiss financial services provider Swissquote, posted a larger annual loss in 2024 as the online brokerage continued to face Brexit-related constraints that have curbed its ability to bring in new clients.

Swissquote UK Loss Widens on Trading Volume Drop

The London-headquartered CFDs broker recorded a £1.16 million loss for the year ending December 31, more than triple the £354,000 loss reported in 2023. The increased deficit followed a 53% plunge in trading volumes year-on-year, while net turnover slipped 48% to just under £419,000.

The firm’s performance underscores the lingering effects of Britain’s exit from the European Union, which removed the passporting rights of UK-based financial institutions.

“As a consequence of Brexit, passporting rights were lost and this change in the British regulatory and legal framework had a significant impact on new customers onboarding, which translated in limited client growth and lower trading volumes,” Swissquote said in its annual report.

However, administrative costs climbed 18% to £1.94 million, driven partly by £215,890 in employee share and option awards not booked the previous year. Headcount fell to nine by year-end from 11 in 2023.

Despite these headwinds, the unit held £6.09 million in cash and cash equivalents, down from £7.03 million a year earlier. Client funds kept in segregated accounts totaled £5.89 million compared with £7.49 million in 2023.

Focus on Product Diversification

Swissquote Ltd has been enhancing its product suite to broaden revenue sources and reinforce its UK footprint. The company said it has “concluded the assessment of additional products designed for the UK market and expects to diversify its revenue streams and strengthen its UK presence.”

The UK branch also continues to support Swissquote Capital Markets Limited, the group’s Cyprus-based entity, to uphold its presence within the EU post-Brexit. This support draws on the London unit’s expertise while covering essential functions to bolster the brand in the bloc.

Swissquote Ltd operates as a matched principal broker, offsetting all client trades with its Swiss parent and taking no market risk. Its income mainly stems from client commissions and overnight funding charges on open CFD positions.

Moreover, at group level, Swissquote’s financial picture is far stronger. The company brought in $444.2 million in revenue in H1 2025 and raised its full-year pre-tax profit guidance to $452.6 million from $440.2 million.

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