INFINOX grows client base by over 200% in 2022

abdelaziz Fathi

London-headquartered INFINOX said it saw steady gains in client acquisitions throughout 2022, having increased new accounts by more than 215% year-on-year. The group continued its momentum heading into year’s end, reporting a strong year-over-year jump in key measures, which included revenues, profits, and client growth.

The broker attributes this growth to tailwinds in its business across LATAM, Asia, MENA, Africa and Southeast Asia. The company also saw upswings in total first time deposits, led by Latin America (where FTDs grew by over 200%) and Asia (112%).

The results corroborated a trend that had already been in place for the duration of FY 2022 – the introduction of its IXO Prime brand paid off for the entirety of the fiscal year, pushing revenues to new highs. The multi-asset liquidity solution is backed by a global trading infrastructure and offers over 300 trading instruments. Additionally, clients can access more benefits such as IXO Position Keeper, technology, white label offerings and more.

“Throughout the year 2022, we worked consistently towards providing our clients with an experience that surpassed market standard. This meant a laser-sharp focus on innovation and customer service. The numbers from 2023 reflect our success in these domains. We are now looking to build on these advances as we focus on a more regionalised strategy for the year ahead,” INFINOX founder and CEO Robert Berkeley said.

Per its latest report, the total value of its UK business’ client assets under management increased by 65% compared to the previous year, now at £14 million. This growth came in spite of a litany of challenging trading conditions and turmoil in its core markets.

For the twelve months through March, INFINOX reported its revenues at £17.08 million ($20.8 million), which reflected a sizable jump of 104 percent year-over-year from £8.37 million ($10.19 million) in the year prior. Gross profit was also a large mover in 2022, climbing to £8.55 million ($10.4 million) from just £6.6 million, or 30 percent on a year-over-year basis.

INFINOX said the business has had a successful year as the new product offers liquidity and institutional services to brokers, money managers, professional clients, prop trading desks and Fintech companies. INFINOX also rolled out the MT5 platform offering to ensure its clients have access to the latest trading platform.

Via a White Label solution, the broker has begun offering access to a wide range of exchange traded futures products. INFINOX noted that the new offering was the result of a pent-up interest in the trading of companies across major world markets, including Europe and the Americas. This includes companies traded on the New York Stock Exchange, the London Stock Exchange, Börse Frankfurt, Bolsa de Madrid, Euronext Paris and Euronext Amsterdam.

Read this next

blockdag

BlockDAG’s Keynote Video Drives $34.7M in Presales, Gaining Traction Among Solana (SOL) Investors and Litecoin Enthusiasts

Discover BlockDAG’s leadership in cryptocurrency, attracting Solana (SOL) investors and Litecoin enthusiasts with its strong growth prospects and groundbreaking mining technology. 

Digital Assets

Mt. Gox users alarmed by $10 billion transfer to unknown wallet

Mt. Gox has transferred 42,830 BTC, worth about $2.9 billion, from its cold wallets, according to Arkham Intelligence data. This marks the first major transfer from the defunct bitcoin exchange in five years.

Digital Assets

FTX co-CEO, SBF’s close associate sentenced to 90 months in prison

Former FTX executive Ryan Salame has been sentenced to 90 months in prison after pleading guilty to criminal charges last September.

blockdag

BlockDAG Dominates Crypto Presales With $34.7M Milestone, Surpassing Floki And Bonk In Market Influence

Discover how BlockDAG’s cutting-edge dashboard and presale achievements upstage Floki and Bonk in the cryptocurrency arena, signaling superior investment opportunities.

Market News, Tech and Fundamental, Technical Analysis

Dogecoin Technical Analysis Report 28 May, 2024

Dogecoin cryptocurrency can be expected to fall further toward the next support level 0.1500.

Retail FX

Canadian broker Questrade taps TradingView charting

Canadian securities brokerage Questrade has upgraded its web platform by integrating popular charting software TradingView.

Fintech

Germany lifts N26’s monthly cap of 60,000 new clients

Germany’s financial regulator has lifted a cap on the number of new clients that N26 Bank AG can take on after the fintech company improved its anti-money laundering controls. BaFin, the country’s financial watchdog, will remove the cap entirely from June 1, 2024.

Education

Animals and the money: Octa broker gathered the most popular slang words in financial markets

If you’ve seen ‘The Wolf of Wall Street’ with Leonardo DiCaprio as Jordan Belfort, you might have wondered why he’s called a wolf in the movie. It’s not just a random label. Animals are often used in finance to describe traders, their traits, or market conditions.

Industry News

Octa’s Global Ramadan Impact

Charity activities are an essential part of Ramadan celebrations. Octa seized this opportunity to implement a series of socially beneficial initiatives worldwide. Read about the projects the broker carried out in Indonesia, Malaysia, and Nigeria.

<