- FxPro plans to introduce physical shares trading in 2024, aiming to enhance its competitive position against brokers like Trading 212 and XTB.
FxPro has announced plans to introduce trading in physical shares through its FCA-licensed UK entity, FxPro UK Limited. Traditionally focused on Contracts-for-Difference (CFDs), this strategic move aims to strengthen its competitive edge against other online brokers like Trading 212 and XTB.
In a recent regulatory filing that accompanied the release of its 2023 UK financial results, FxPro confirmed its intention to offer physical share trading to clients in 2024. The company’s 2023 financial performance has shown promising growth, with revenues rising to £1.37 million, a 23% increase from £1.11 million in 2022.
FxPro also reported a net profit of £153,000, a significant turnaround from a loss of £615,000 the previous year. However, client funds held in fiduciary capacity fell to £7.46 million as of December 31, 2023.
