Advisory Unit of Liquidity Provider Onyx Sees Revenue Jump After CFDs Broker Launch
Oil derivatives liquidity provider Onyx Capital Group’s entity that operates its retail brokerage business generated £3.1 million in revenue in the 18 months ended 31 December 2024, compared to £0.9 million in the previous 12 months. The Financial Conduct Authority-regulated broker, Onyx Markets, was launched last year and offers trading services in contracts for differences (CFDs) and spread betting.
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The latest Companies House filing of Onyx Capital Group noted that the brokerage business continued to increase its number of clients and market share.
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The Group offers retail trading services through its entity, Onyx Capital Advisory Limited, which received its FCA licence in 2019 and had previously been offering advisory services. Andrea Rebusco, who previously worked at IG Group and MoneyFarm, heads the brokerage division. Several other former IG executives have also joined the business.
The entity offering CFDs trading also ended the latest accounting period with an operating loss of £4 million, compared to a loss of £1.7 million in FY23. “Whilst the company continues to be loss-making, there has been a significant increase in turnover during the period,” the filing noted, adding that “the advisory business has had a strong 18-month period, growing the revenue by 360% compared to the prior year.”
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A Struggling, Yet “Good” Year for Onyx
Meanwhile, the Group ended the 18 months with £247 million in turnover. Although not directly comparable, the figure was £208 million in the previous 12-month-long financial year.

The Group’s most striking figure in its latest Companies House filing was its profits. Its operating profit for the 18 months came in at £33 million, down from £76 million in the previous 12 months. It netted £28 million after tax, compared to £60 million in FY23.
According to the filing, the profit was hit by the impact of challenging market conditions, which reduced trading margins.
“Given the market conditions last year, [which] seem to have hit every trade house and major, [our] results were pretty good,” Greg Newman, Group CEO of Onyx Capital Group, noted in a LinkedIn post. “We have a strong cash position and a solid operational function.”
“So whether it was dealing with PnL volatility for the firm, a highly publicised legal battle, multiple attempts at bullying from trade houses and legacy market infrastructure businesses, or even unexpected departures – we’ve stayed completely true to what we are about and what we are trying to do.”