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News
OANDA Europe maintains stability post-Brexit: FY22 turnover holds steady
OANDA Europe, the UK-based subsidiary, reported a steady turnover of £16.8 million for fiscal year 2022, mirroring the previous year. However, net profit saw a substantial 59 percent increase, reaching £558,492. This was attributed to a combination of heightened market volatility and a decrease in active clients.
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.
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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.
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Editorial Note
This article aggregates publicly available market and broker updates from the source CMS. Verify time-sensitive data directly with official sources before making decisions.
Last update: Oct 05, 2023