Driven by a crypto rebound and political events, eToro UK’s profits skyrocketed last year. The trading platform reported a net profit of $6.0 million for 2024, a 144% jump from the $2.5 million earned in 2023.
Revenue also saw a strong 41% increase to $177.7 million, fueled by a 38% rise in trading commissions. The company noted a “decisive” return of investor momentum in the final quarter after a mid-year slowdown.
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While profits grew significantly, expenses also rose. Administrative costs climbed 38%, largely due to increased fees paid to other entities within the eToro group.
The company’s financial position strengthened, with cash reserves more than doubling and client money held surging to $472 million.
This UK performance follows strong 2024 results for the entire eToro group, which saw a thirteenfold profit increase ahead of its May IPO on Nasdaq.
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