iFOREX said on Friday it plans to list on the London Stock Exchange in a bid to strengthen its brand, attract more clients, and expand its international footprint.
The fintech firm, founded in 1996 by Israeli entrepreneur Eyal Carmon, offers trading in FX and Contracts for Difference (CFDs). In 2018, iFOREX rebranded its European operations under the name “Vestle” to comply with stricter EU regulations on leveraged trading and client protections. However, the regional rebranding was short-lived as the company reverted back to “iFOREX Europe” in 2022, onsolidating its identity under the original brand name.
The planned IPO is expected to value the company at around £50 million and raise up to £5 million in new capital. Proceeds will be used to accelerate marketing, integrate AI-driven trading features, and secure regulatory licenses for entry into new and existing markets.
“London is one of the most attractive and competitive capital markets in the world, with a deep understanding of fintech companies,” said iFOREX CEO Itai Sadeh in a statement of intention to float.
The move comes amid a broader push to revive London’s IPO market, which has struggled to attract high-growth listings in recent years. The UK’s Financial Conduct Authority has introduced sweeping reforms to improve competitiveness, following high-profile exits and IPO slowdowns.
If successful, iFOREX would join a small group of listed online trading firms on the LSE, including IG Group, Plus500, and CMC Markets. Israeli trading platform eToro is also moving ahead with its long-delayed U.S. public listing, targeting a valuation of up to $4 billion.
iFOREX reported trading income of $50.1 million and adjusted pre-tax profits of $7.6 million for the year ending December 31. The firm has appointed Shore Capital as its financial adviser for the listing.
An official IPO announcement is expected in the coming weeks.
