Acetop Financial Limited, the London-based CFDs and spread betting provider, reported a pretax loss for 2025 as client trading volumes retreated from the prior year's gold-fueled surge. The FCA-regulated firm posted a loss of £35,691 for the year ended 31 December 2025, compared with a profit of £234,128 in 2024, according to its annual report filed with Companies House.
Revenue at the UK broker fell to £820,647 in 2025 from £922,946 a year earlier. The business is controlled by Hong Kong resident W S Lau through a British Virgin Islands parent. Notional trading volumes declined to about $9.5 billion, down from $12.1 billion in 2024, when activity tripled on the back of record spot gold prices and a near-30% rally in bullion.
Revenue mix and trading activity
The annual report shows that spot gold remained Acetop Financial's dominant product. Trading was concentrated in Spot Gold, with most volumes generated through outsourced liquidity arrangements and matched with institutional counterparties. Net gain on trading of financial products halved to £100,647 in 2025 from £202,946 a year earlier.
Service fees, billed to group affiliates, remained flat at £720,000 and continued to provide the bulk of the firm's revenue. Despite the decline in trading gains, Acetop Financial generated an operating profit of £65,709 in 2025, though this was down 71% from £225,123 in 2024.
Profitability impact and balance sheet
Management attributed the softer year to a quieter trading environment following 2024's strong performance, when bullion's rally significantly lifted volumes across the desk. The factor that pushed the firm into an overall loss was interest payable, which rose sharply to £101,400 in 2025 from £5,815 a year earlier.
Net assets edged down to £1.81 million from £1.85 million, while cash holdings rose slightly to £1.62 million. The firm stated that it remained in compliance with FCA capital requirements throughout the year.
Regulatory context
Within the UK regulatory landscape, Acetop Financial operates among a limited group of firms authorised to offer CFDs to retail clients. As of 1 December 2025, 74 FCA-regulated firms held permissions to provide CFDs to retail clients, while the broader FCA CFD portfolio comprised 105 firms.
