Swissquote London Revenue Drops 48% Amid Brexit

Swissquote UK arm posts wider 2024 loss as Brexit curbs client growth, with trading volumes down 53% and revenue off 48%.

Swissquote Ltd, the UK subsidiary of Swiss financial services group Swissquote, has reported a steep decline in revenue and a wider annual loss for 2024 as regulatory headwinds and Brexit restrictions continue to weigh on its UK operations.

The London-based contracts-for-difference (CFD) broker posted a net turnover of £418,567, down 48% from £810,210 in 2023, while trading volumes plunged by 53%. Losses before tax widened sharply to £1.16 million, more than triple the £354,000 deficit recorded the previous year.

The company attributed the downturn primarily to Britain’s exit from the European Union, which stripped UK financial firms of their ability to “passport” services across the bloc.

“Brexit stripped passporting rights, and changes in the British regulatory and legal framework significantly hindered new customer onboarding, limiting client growth and reducing trading volumes,” Swissquote noted in its annual report.

The company increased administrative expenses by 18% year-on-year to £1.94 million, partly due to £215,890 in employee share and option awards not recognized in 2023. Headcount fell slightly, with nine employees at year-end compared to eleven a year earlier.

Swissquote London Revenue Drops 48% Amid Brexit

Despite the losses, Swissquote maintained a solid liquidity position, holding £6.09 million in cash and cash equivalents, though this was down from £7.03 million in 2023. Client funds held in segregated accounts also fell to £5.89 million, compared to £7.49 million the previous year.

In response to the regulatory constraints, Swissquote Ltd has been working to broaden its product offering to diversify revenue streams and reinforce its position in the UK market.

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.”

At the same time, the UK subsidiary continues to support Swissquote Capital Markets Limited, the group’s Cyprus-based arm, to maintain a foothold within the EU after Brexit.

Swissquote Ltd operates as a matched principal broker, taking no direct market risk as all client trades are hedged with its Swiss parent. Revenue comes mainly from commissions and overnight funding charges on open CFD positions.

While the UK unit struggles, Swissquote’s parent company has delivered a robust performance. The group generated $444.2 million in revenue in the first half of 2025, prompting it to raise full-year pre-tax profit guidance to $452.6 million, up from a previous forecast of $440.2 million.

Also, check out Stock Brokers Reviews for the latest enhancements and take your trading to the next level!