Compagnie Financière Tradition (SWX: CFT), an inter-dealer broker and operator of the Japanese retail forex trading platform Gaitame, reported a solid start to 2026 with double-digit revenue growth in the first quarter. The group closed the first three months of 2026 with total revenue of CHF 339.7 million, an increase of 17.4% compared with the same period a year earlier and up from CHF 293.2 million in the previous quarter.
Reported revenue for the period reached CHF 314.2 million, compared with CHF 294.7 million in the first quarter of the prior year. The company distinguishes between revenue generated by its interdealer broking business (IDB) and its non-IDB activities, which mainly consist of its retail forex operations in Japan.
Revenue performance by business line
According to the latest trading update, the IDB segment remained the primary contributor to group revenue. The business generated CHF 327.6 million in the first quarter of 2026, representing a 17.6% year-on-year increase. The retail forex business, which includes the Gaitame platform serving Japanese retail investors, reported revenue of CHF 12.1 million for the quarter, up 13.9% from the same period in the previous year.
The company highlighted currency effects as a factor influencing the year-on-year comparison. It noted a notable base effect in foreign exchange at the beginning of the year, particularly related to the US dollar. The US dollar appreciated against the Swiss franc during the first quarter of 2025 before depreciating significantly following US tariff announcements in April 2025. This base effect was described as especially pronounced in the first quarter and is expected to gradually ease over the course of the year, assuming relative stability of the Swiss franc in the coming quarters.
Full-year 2025 results context
Compagnie Financière Tradition entered 2026 following a strong financial performance in 2025. The group ended 2025 with net group profit of CHF 134.2 million, an increase of 22.2% compared with the previous year. Revenue for 2025 was almost CHF 1.12 billion.
For the full year 2025, IDB revenue reached CHF 1.16 billion, while the online forex trading business for retail investors in Japan generated CHF 39.6 million. These figures underscore the dominant role of the IDB segment in the group’s overall revenue mix, with the Japanese retail forex business providing a complementary contribution.
The latest quarterly figures indicate continued momentum into 2026, with both IDB and retail forex activities contributing to the group’s year-on-year revenue growth in the first quarter.
