Exclusive: IXO Prime launch helps INFINOX UK double Revenues in 2022, to £17M
FNG Exclusive… FNG has learned that FCA regulated multi-asset broker INFINOX Capital Ltd more than doubled its Revenues in fiscal 2022 (March 31 year end), which also saw the company significantly increase profitability as it built up its IXO Prime branded B2B business.
INFINOX Capital, which effectively acts as the institutional and broker services arm of global Retail FX and CFDs broker INFINOX, saw its Revenues climb from £8.4 million in 2021 to £17.1 million in 2022 – an increase of 104%. Net profit came in at £1.1 million, versus £0.2 million the previous year.
INFINOX indicated that its successful year reflected significant increases across all Key Performance Indicators. This has mainly been due to the introduction of its IXO Prime brand, where INFINOX offers liquidity and institutional services to brokers, money managers, professional clients, prop trading desks and Fintech companies. The business also rolled out the MT5 platform offering to ensure its clients have access to the latest trading platform.
The company said that it plans further expansions of its product offering. With the recently launched IX Exchange product, that offers more than 20,000 instruments, the new platform allows clients access to exchange traded products from the world’s largest and most recognised exchanges. This combined with continued expansion of its IXO Prime brand puts the business in good stead to continue this growth into 2023.
INFINOX Capital also saw its Client Assets increase by 65% compared to prior year, now at £14.3 million.
Jay Mawji, Managing Director of INFINOX Capital Ltd, said:
“The 100%+ increase in revenue is attributed to the growth of the IXO Prime Liquidity product. Based on competitive pricing, a global trading infrastructure and the hallmark of INFINOX premium client service, the IXO Prime offering will continue to grow as we develop existing relationships and attract new clients.”
“INFINOX’s strong brand reputation has served the business well and we continue to develop opportunities in new regions and products, including the IX Exchange traded product.”