Online trading provider INFINOX Capital Ltd (UK) announced that it maintained solid financial performance in its financial year 2023 (year ended 31 March), with revenues of £15.7m (2022: £17.1m), while The INFINOX brand reported worldwide record revenue of $130 million.
Record Key Performance Indicators (KPIs) were achieved across the INFINOX group – including record trading volume, deposits and client accounts.
The company said it continues to reassess its product offering in 2023/24 and has taken the decision to focus on its core offering – MT4 and MT5 – as part of the IXO Prime brand that offers liquidity and institutional services to brokers. money managers, professional clients and Fintech companies.
Founded in 2009 and based in the City of London, INFINOX Capital Ltd is the FCA-licensed arm of the INFINOX group and enables sophisticated investors to trade a full range of asset classes, from forex to equities and commodities.
The company said it has adapted well to the challenging and significant market movements the industry has seen, consolidating business operations and operating in an efficient model with a strong product offering.
Jay Mawji, CEO of INFINOX Capital, said:
“Like many companies in our industry, the UK trading environment remains challenging. The company operates on an efficient model with a strong product offering. Our KPIs are in line with a healthy model and we expect the business to continue to be profitable as it has always been.
“Across the INFINOX brand, in 2022 we posted record KPIs across all of our metrics, including record trading volume, deposits, funds under management and a record year of revenue.
“The brand undertook a timely restructuring in 2023 to further drive efficiencies across the business, focusing on our core business model. We are well positioned with our offering of IX Partners, IX Social and IXO Prime products. Investments have been made across our vertical and horizontal structures, with a range of new products, partnerships and acquisitions to be announced and delivered in 2024.”
About INFINOX
INFINOX Capital Ltd is a global, online trading platform based in the City of London. Authorized and regulated by the Financial Conduct Authority, it enables professional clients and institutional businesses across the UK and beyond to trade and access solutions across a full range of asset classes, from forex to shares and commodities .
Its business is built on integrity and trust and offers clients access to a range of market intelligence tools as well as dynamic products, competitive trading parameters and premium, one-on-one customer service.