INFINOX grows client base by over 200% in 2022

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.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts