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Infinox Drops 78% in Year-on-Year Turnover

Infinox Capital published a drop in turnover for its full-year fiscal results for March 31, 2019. The London-based broker’s numbers fell contrary to its 2018 fiscal year.

Its UK division dropped by 78.2% from £41.70 million to £9.08 million year-on-year. The figure was also lower than the £17.5 million turnover ended in March 31, 2017.

UK operations also lost £2.4 million, significantly lower than the £2.8 million profit achieved the year prior.

The broker’s CEO said the introduction of the ESMA product intervention measures and MiFID II held the company back. Robert Berkeley said this resulted in significant restructuring costs to align to the new environment.

Restructuring and investing for the future creates the backbone for growth. This doubled the brokerage’s client equity and more than doubled its active client base.

Berkeley said he’s looking forward to 2020 and beyond, seeing the industry as “challenging but invigorating.” He claims the company’s insistence to innovate allows them to access new markets with the launch of the IXO platform.

About IXO and Infinox

Designed by experienced traders, Infinox created the IXO platform to offer simpler offerings than MetaTrader 4.

The FCA-regulated Group’s flagship trading platform has a modern interface built for both beginners and professional traders. Investors can trade a wide variety of CFDs with options to automate buying, manage trailing stops, and get price updates.

Launched in 2009, Infinox now has a multinational workforce offering trading in forex, indices, equities, commodities, cryptocurrencies, and futures.

Around 72% of retail investor accounts trading with the broker.

Recent reviews recommend traders not to use their platform for a pattern of poor customer service and lack of transparency. Others, on the other hand, claim the company makes “great executions” and provides “amazing trading conditions.”

Each client involved with the brokerage has a personal account manager available five days a week during global trade hours.



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