Trive Financial Services UK released its financials forthe year ended 2024, highlighting a 74% revenue drop £2,327,648 in 2024 from£8,853,308 in 2023. This followed a retreat from the UKCFD market.Wind‑down in the UK Trive UK, formerlyoperating under the GKPro and GKFX brands, applied to cancel its FCA licence in 2024 after shifting away from retail clients and migrating that segment to Malta. The latest report shows that gross profit fell 70% to £562,834 from £1,870,138, whileadministrative expenses decreased to £972,462 from £1,392,584 but rose as ashare of revenue.The CFD broker generated no other operating income in 2024,compared with £157,421 in the prior year, and interest receivable slumped to£44,471 from £697,059. The drop in interest income reflected a much smallercash position as the business wound down.Cash at bank and in hand fell sharply to £99,896 at year-endfrom £2,344,225 in 2023, while net assets decreased to £2,966,878 from£3,332,035.Auditors have issued a qualified opinion onthe 2024 accounts, saying it could not obtain sufficientappropriate evidence on the recoverability of a £3,429,502 debtor due from anentity under common control. It added that this could have a material impact on the figures.License Cancellation and Auditor’s Qualified OpinionThe company also booked a £320,099 provision for a legalclaim from a former customer, covering a potential settlement and estimatedlegal costs, after legal advisers assessed the customer had more than a 50%chance of success. Trive UK proceeded with its UK license cancellation despiteinitially reporting profit in two subsequent years.Meanwhile, the group has been actively expanding in South Africa, whereTrive South Africa began onboarding CFD and derivatives clients under FSCAoversight. It partnered with Finalto SA to bolster liquidity and ODP services,while a Mauritius affiliate handles significant B2B flow in the region. Trive is not the only CFD broker stepping back from the UK.Its decision to give up its FCA licence fits a broader pattern of firmsreassessing the economics in the region. Other recent moves include GMIMarkets’ plan to cease UK CFD operations and Gain Capital UK’s intention tosurrender its FCA license for Forex.com and City Index.This article was written by Jared Kirui at www.financemagnates.com.