Flow Traders, the Dutch liquidity provider for stock market trading, has been on our favorites list for years. The company has consistently met our expectations and vision. The most recent article on Flow Traders dates back to October 2024. The price at that time was €19,- and at that time we expected the short-term rebound to €26,- and for the long term to the €35,-. We are now fourteen months on and the €26.00 mark has been more than achieved. Time for an update on the developments at Flow Traders and time for a fresh analysis of the opportunities for you as an investor.

We heartily recommend that you read the October 2024 article "Flow Traders: Buy the dip - Part 2" first. That way you will be fully informed about the background. You can find the article HERE.

What have been the developments at Flow Traders in 2025?

In 2025, Flow Traders reported mixed results. In the third quarter of 2025, net trading income and total revenue decreased significantly compared to the third quarter of 2024, while the trading value of listed products actually increased. This indicates growth in that segment but lower margins overall. As a result, net profit fell sharply from the previous year.

In contrast, Flow Traders showed strong performance in the second quarter with net trading income and profit increasing by double digits. Along with substantial growth in listed product (ETP) volumes.




This indicates that profitability in 2025 varied widely by quarter. In April 2025, Flow Traders announced that CEO Mike Kuehnel will end his term as CEO in August 2025. In late October, Thomas Spitz was appointed as CEO and Executive Director of the Board of Directors effective November 2025, marking an important step in leadership renewal within the company.

To support growth and strengthen trading operations, Flow Traders has entered into a new $2025 credit facility of $200 million plus an additional $75 million to be used as a line of credit. This significantly increases the company's financial flexibility and trading capital.

Flow Traders continues to position itself within the rapidly growing exchange-traded products (ETP) market. This segment is an increasing part of their business, indicating a continued strategic focus on ETP liquidity and broad market offerings.

In July 2025, Flow Traders was named as a partner in a collaboration with Deutsche Bank's DWS and Galaxy Digital to launch a German regulated stablecoin. This requires a license from German regulator BaFin. This project focuses on digital assets and tokenization, indicating that Flow Traders is active in expanding into new financial technologies and markets beyond traditional high-frequency trading.

In summary, 2025 was a year of variable quarterly performance for Flow Traders, management transition, larger financial instruments and trading capital, and strategic moves toward digital assets and exchange-traded product (ETP) markets.
Market reaction in 2025 was restrained in part by earnings pressure and cost increases, but broad market presence and investment in growth sectors remain key themes for growth and success in the years ahead.

What is the analysts' view on Flow Traders' share price?

Overall, analysts remain relatively positive over the medium term. A recent consensus forecast among analysts gives an average 12-month price target of €28.70.

The current share price is around €24; as a result, international bank analysts expect a return potential of around 20%. The technical analysts consulted foresee a moderate period first before the Flow Traders share price can rise to the €29,- to €31,- zone.

In the Trading Update, Flow traders themselves emphasize that they are focused on rolling out an ambitious growth strategy, particularly aimed at expanding growing trading activities outside their traditional area. This includes listed products, crypto and markets in Asia/APEC. Management indicated that they will further elaborate and outline these plans during a Capital Markets Day in 2026, indicating that the vision for 2026 depends in part on elaborating these plans during that event. They also emphasized the focus on efficient use of trading capital and technology and that systems are "optimized for any level of volatility."

What is our take on Flow Traders' share price?

Below is Flow Traders' price chart over the past five years. The arrows indicate our most likely scenario for the next two years.

Flow Traders made the first successful step in its growth path for the future in 2024. As a result, the stock rose approximately 100% to €31 within twelve months. The inevitable correction that followed brought the share price back to €22 this year. In our algorithm's most likely scenario, the correction is most likely to end. This brings the adage " buy the dip" back into view for Flow Traders. The company has taken steps to be successful for the coming years. In doing so, we expect a volatile stock market year 2026. This is favorable for Flow Traders' business.

For the term of six to nine months, our system gives a price target of €32. After the correction, the price can continue to rise to around €37 in the coming years.

With this, our system partially goes along with the analysts' vision for the coming year. With the target price of €32, we are among the positive guard of analysts.


Conclusion

As far as we are concerned, Flow Traders is well on its way to an even brighter future through the strategic growth plans led by the new CEO. The share price has corrected healthily after a fantastic rise and is ready for the next upward price movement in an expected volatile stock market year 2026.

You might consider including the stock in your portfolio. Current share price is €24.
Target price €32, and for the long term €37.

Annual results plus notes are expected on February 12.

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. They are therefore for educational purposes only.