OANDA Europe, the UK-based subsidiary of the broader brokerage group, concluded fiscal year 2022 with a turnover of £16.8 million, mirroring the previous year’s results. Meanwhile, the company’s net profit saw a notable surge of approximately 59 percent, reaching £558,492.
This consistent performance was attributed to a blend of heightened market volatility, which positively impacted revenues, and a decrease in active clients resulting in a reduced transaction volume.
In response to Brexit, OANDA strategically reorganized its European operations. This included establishing a European hub in Poland and seamlessly migrating clients from its Maltese entity.
While OANDA’s UK business showed little growth last year, it marked a significant decline from the peak influenced by the pandemic. In 2020, the company experienced a remarkable 148 percent revenue surge, amounting to £29.2 million. Despite this dip, the most recent figure surpassed pre-pandemic levels observed in 2019, when the broker generated £11.8 million.