Infinox Capital Doubles FY22 Revenue as Prime Services Demand Rises
- The company generated a pre-tax profit of £1.34 million in the fiscal year.
- The client assets under management also jumped to £14.3 million.
Infinox Capital Limited, a London-based brokerage, has published its full-year results for its operations in the United Kingdom for the fiscal year 2022, which ended on 31 March. It reported a revenue of more than £17 million, which is a year-over-year increase of around 105 percent.
Infinox Capital Financials Rise Strongly in 2022
The broker's revenue took a massive upward leap compared to the previous fiscal and several other consecutive financial years. The figure was at £8.3 million in FY21, and £10.16 million and £9.08 million in the two previous consecutive years, respectively.
Along with the turnover, the cost of sales of the broker increased to £8.5 million from £1.7 million. With this, Infinox generated a gross profit of £8.5 million, jumping from the previous year's £6.6 million, according to the latest Companies House filing. In addition, the administrative expense of the broker increased by 18 percent to £7.2 million.
The annual pre-tax profit of Infinox was more impressive than the revenue. The figure for the last fiscal year came in at £1.34 million compared to £290,719 in the previous year. It was a yearly increase of 362 percent. The broker ended the year with a net profit of £1.06 million.
Furthermore, the client assets under management with the UK broker increased to over £14.3 million in FY22 from £8.68 million, which is a year-over-year uptick of about 65 percent. Moreover, its social trading tool, IX Social, witnessed a 75 percent growth in client acquisition in the third quarter of 2022.
Infinox Capital Expanding Industry Services
Infinox was established in 2009 by Robert Berkeley, who is heading the brokerage group as the CEO. The company offers counterparty trading services and has expanded into other areas of the trading industry as well.
"[Last year's growth] has mainly been due to the introduction of its IXO Prime brand, where Infinox offers liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent 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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real ," the Companies House filing stated.
Check out the recent iFX EXPO International 2022 session on "The Dawn of a New Era: Liquidity in Post-Pandemic Markets" where Infinox's Head of Institutional Sales, Chris Hossain-Nelson, was a panelist.
Now, the broker further plans to expand its product offerings in the ongoing financial year.
"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 Limited, a London-based brokerage, has published its full-year results for its operations in the United Kingdom for the fiscal year 2022, which ended on 31 March. It reported a revenue of more than £17 million, which is a year-over-year increase of around 105 percent.
Infinox Capital Financials Rise Strongly in 2022
The broker's revenue took a massive upward leap compared to the previous fiscal and several other consecutive financial years. The figure was at £8.3 million in FY21, and £10.16 million and £9.08 million in the two previous consecutive years, respectively.
Along with the turnover, the cost of sales of the broker increased to £8.5 million from £1.7 million. With this, Infinox generated a gross profit of £8.5 million, jumping from the previous year's £6.6 million, according to the latest Companies House filing. In addition, the administrative expense of the broker increased by 18 percent to £7.2 million.
The annual pre-tax profit of Infinox was more impressive than the revenue. The figure for the last fiscal year came in at £1.34 million compared to £290,719 in the previous year. It was a yearly increase of 362 percent. The broker ended the year with a net profit of £1.06 million.
Furthermore, the client assets under management with the UK broker increased to over £14.3 million in FY22 from £8.68 million, which is a year-over-year uptick of about 65 percent. Moreover, its social trading tool, IX Social, witnessed a 75 percent growth in client acquisition in the third quarter of 2022.
Infinox Capital Expanding Industry Services
Infinox was established in 2009 by Robert Berkeley, who is heading the brokerage group as the CEO. The company offers counterparty trading services and has expanded into other areas of the trading industry as well.
"[Last year's growth] has mainly been due to the introduction of its IXO Prime brand, where Infinox offers liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent 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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real ," the Companies House filing stated.
Check out the recent iFX EXPO International 2022 session on "The Dawn of a New Era: Liquidity in Post-Pandemic Markets" where Infinox's Head of Institutional Sales, Chris Hossain-Nelson, was a panelist.
Now, the broker further plans to expand its product offerings in the ongoing financial year.
"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."