INFINOX celebrates 75% increase in new clients Q3 2022 YoY caused by rise of “new trader”
INFINOX has reported a substantial rise in client acquisition in Q3 2022, as compared to Q2 of this year, and to Q3 of 2021.
The FX and CFD brokerage firm has onboarding more new users both to its trading platform and to its social trading tool, IX Social.
IX Social has seen a spike in the number of new accounts opened globally, with data showing a rise of almost 30% in new accounts in Q3 of 2022, when compared to new accounts in Q2 of the same year. When comparing Q3 of 2022 to that of 2021, a surge of over 75% can be noted.
The rise of the “new trader” in Arab-speaking world
In an official statement, Sam Chaney, Head of Sales at INFINOX Sam Chaney, pointed to the rise of the “new trader” as the cause for the growth in the onboarding rate.
“We’re talking about a new type of trader – one who is younger and more growth-oriented when it comes to online trading and this is especially prominent in the Middle East and Arab-speaking world.
“The ‘new trader’ sees this platform as a long-term opportunity, rather than the conservative trader who viewed online trading as a short-term activity – and even a competition between traders. Our IX Social tool fits like a glove to this trader, because it offers them a community in which they can discuss market movements, understand the dynamics and even get inspired by other traders. Basically, it is a win-win situation. We will continue to develop our IX Social tool, so as to make sure it serves the needs of the ‘new trader’ in the most optimal manner.
INFINOX was founded in 2009 and has since established offices in 15 countries to be closer to the thousands of clients that access the online trading platform across the world.
The broker offers access to a full range of asset classes, including forex, equities, commodities, and crypto, as well as a wide range of tools, including the IX Social platform, market news, up-to-date analysis, and extensive customer support.
INFINOX launched IX Exchange in the UK
Last month, INFINOX launched proprietary trading platform IX Exchange in the United Kingdom, giving clients access to over 20,000 investments – including equities, ETFs and bonds on all major global exchanges – from one account.
The platform allows users to diversify their holdings and hedge their portfolio, making both long-term investments and lightning-quick speculative trades.
IX Exchange runs alongside INFINOX’s existing MetaTrader-powered platform, and offers desktop, mobile, and web platforms designed by traders, for traders. This comes in good timing as the MetaTrader platforms are increasingly under fire within the industry, having recently been suspended from the Apple Store.
The platform can be used by IFAs, hedge funds, proprietary desks and other financial institutions to manage and monitor their clients’ investments. Clients can transfer their portfolios from other brokers and use IX Exchange to invest tax efficiently by holding their assets in a SIPP or SSAS pension.