London-based brokerage Infinox Capital is out with its full-year results. The company exclusively shared with Finance Magnates its metrics for the year that ended on March 31, 2018.
The FCA-regulated brokerage posted an increase in turnover of 141 percent year-on-year. The company posted £41.6 million of revenues, up from £17.5 million in fiscal 2017.
Net profits before tax also increased sharply when compared to a year ago. The figures rose 175percent to £3.47 million when compared to £1.26 million in fiscal 2017.
“We saw a 141% increase in our turnover for the year ending in March 2018, driven by our philosophy of delivering a premium customer service around our core values of integrity and trust,” commented to Finance Magnates the CEO of the company Robert Berkeley.
Trading volumes at Infinox increased by 86 percent year-on-year to $511 billion.
Forex Trading Disruptor Sees Growth Thanks to Offshore Regulated StatusGo to article >>
Margins at Infinox Capital appear to have increased at a critical time for the industry, just before the introduction of new regulatory restrictions for retail clients in the EU.
New Products Incoming
Highlighting the rapid pace of growth for the firm since it launched in 2009, Berkeley elaborated that the company was recognized for the second year running in the Sunday Times Hiscox Tech Track 100 league table ranking of Britain’s fastest-growing private tech (TMT) companies. Infinox placed 14th in 2017 and 15th in 2018.
“Our commitment to innovation and technology will help us meet the challenges that lie ahead with the ever-changing regulatory landscape. New products releases are due in the Q4 2018 which will enhance our drive to deliver ‘Trading Power’ to our retail and institutional clients worldwide,” Berkeley shared.
Infinox Capital managed to attract enough customers to cushion the introduction of new leverage restrictions in Europe. Companies with a significant capital buffer into the new era for the brokerage industry in the EU have a higher chance of successfully adapting to the new operating environment.
The company rebranded from GO Markets UK back in 2016. The commitment to building up a new brand has paid off well for the firm over the past couple of years. Last year the revenues of Infinox doubled from the year of the rebranding.