The UK’s FX and CFD retail broker LandFX announced a loss of £24,350 for the year ended December 31, 2024, reversing from a profit of £55,033 in 2023, according to its annual report released today (Monday).

LandFX UK Reports Annual Loss for 2024 as Revenue Declines

The London-based LandFX UK Limited, regulated by the UK Financial Conduct Authority (FCA), saw its revenue fall to £508,629 in 2024, down approximately 15% from £598,193 in 2023. The firm’s net assets stood at £502,216 at year-end, compared to £526,566 in the previous year.

“During the year, the company has primarily focused on servicing its existing client base,” stated the company’s strategic report, which was signed by Director Jinsoo Park.

The financial intermediary, whose main source of revenue is commission charged based on client trading volumes, reported a decrease in its cash position to £96,525 at year-end, down from £242,189 at the close of 2023.

FinanceMagnates.com also recently reported the annual results of another UK-based broker, Sucden Financial, whose pre-tax profit rose to nearly £37 million.

LandFX UK Limited – Key Financial Data (2023-2024)

“Low Apetite for Risk”

Administrative expenses remained relatively stable at £501,618 compared to £509,520 in 2023, suggesting that cost management was not a significant factor in the profit decline. Instead, the 15% revenue reduction appears to be the primary driver of the financial performance shift.

The company highlighted various risk factors in its report, including price, credit, cash flow, liquidity, and foreign currency risks. LandFX noted that it has “a low appetite for risk” and has implemented controls to mitigate potential exposures, including ensuring “all customer funds are held in a UK regulated clearing bank.”

LandFX UK Limited is ultimately controlled by Park, who serves as one of the company’s two directors alongside Shashi Patel. The company is registered in England and Wales with company number 09358463 and operates from its registered office at 1 Filament Walk, London. Under its FCA authorization the company is also operating Land-Liquidity, offering institutional brokerage services.

This article was written by Damian Chmiel at www.financemagnates.com.BrokersRead More

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