Overall, the Group managed to report an increase in turnover.
After a strong 2018 fiscal year, Infinox Capital Limited, a London-based brokerage, has published its full-year results for its operations in the United Kingdom for the year ended March 31, 2019. Unlike the previous year, the metrics reveal a tough period for the broker.
Namely, the FCA-regulated brokerage reported a drop in turnover for its UK division. Specifically, it fell by 78.2 percent, from £41.70 million in the 2018 fiscal year, down to £9.08 million in the 12 months ended March 31, 2019. This figure is also lower than the £17.5 million turnover achieved in fiscal 2017.
For the 2019 fiscal year, the brokerage reported a loss for its UK operations - £2.4 million. Again, this is significantly lower than the £2.8 million profit the brokerage achieved in the prior-year period in the UK.
Infinox Capital feels the weight of ESMA and Brexit
The results, which are now available through the UK’s Companies House, are not out of the ordinary for the industry. In fact, since the regulatory restrictions were implemented by the European Securities and Markets Authority (ESMA) back in August of 2018, many brokers have been feeling the pinch.
However, although the company has reported weaker results for its UK operations, overall, the Infinox Capital Group, which includes its entities in Britain and the Bahamas, has broken even for the year. In fact, the company saw significant growth across its global operations.
Commenting on the Group's results, Robert Berkeley, the CEO of Infinox said: “2018 was a challenging year for the whole CFD industry worldwide, particularly with the introduction of the ESMA product intervention measures and MiFID II. This meant a fundamental reorganisation of our INFINOX business, resulting in significant restructuring costs to align the business to the new environment."
“This restructure meant that across the INFINOX group of companies we broke even for 2018, whilst investing in the future to create the backbone for growth. This investment has meant that the group has returned to profit in 2019, doubled its client equity and more than doubled its active client base."
“This ever-changing industry is challenging but at the same time invigorating, as one is constantly having to challenge the norm to innovative and develop. This is why I have been a CEO in this industry for over 10 years now and looking forward to 2020 and beyond.”
“This desire to innovate is clearly illustrated with the launch of the IXO platform - our multi-asset offering covering CFDs and futures. This is allowing us to access new markets around the world that demand more from a Trading Platform”
After a strong 2018 fiscal year, Infinox Capital Limited, a London-based brokerage, has published its full-year results for its operations in the United Kingdom for the year ended March 31, 2019. Unlike the previous year, the metrics reveal a tough period for the broker.
Namely, the FCA-regulated brokerage reported a drop in turnover for its UK division. Specifically, it fell by 78.2 percent, from £41.70 million in the 2018 fiscal year, down to £9.08 million in the 12 months ended March 31, 2019. This figure is also lower than the £17.5 million turnover achieved in fiscal 2017.
For the 2019 fiscal year, the brokerage reported a loss for its UK operations - £2.4 million. Again, this is significantly lower than the £2.8 million profit the brokerage achieved in the prior-year period in the UK.
Infinox Capital feels the weight of ESMA and Brexit
The results, which are now available through the UK’s Companies House, are not out of the ordinary for the industry. In fact, since the regulatory restrictions were implemented by the European Securities and Markets Authority (ESMA) back in August of 2018, many brokers have been feeling the pinch.
However, although the company has reported weaker results for its UK operations, overall, the Infinox Capital Group, which includes its entities in Britain and the Bahamas, has broken even for the year. In fact, the company saw significant growth across its global operations.
Commenting on the Group's results, Robert Berkeley, the CEO of Infinox said: “2018 was a challenging year for the whole CFD industry worldwide, particularly with the introduction of the ESMA product intervention measures and MiFID II. This meant a fundamental reorganisation of our INFINOX business, resulting in significant restructuring costs to align the business to the new environment."
“This restructure meant that across the INFINOX group of companies we broke even for 2018, whilst investing in the future to create the backbone for growth. This investment has meant that the group has returned to profit in 2019, doubled its client equity and more than doubled its active client base."
“This ever-changing industry is challenging but at the same time invigorating, as one is constantly having to challenge the norm to innovative and develop. This is why I have been a CEO in this industry for over 10 years now and looking forward to 2020 and beyond.”
“This desire to innovate is clearly illustrated with the launch of the IXO platform - our multi-asset offering covering CFDs and futures. This is allowing us to access new markets around the world that demand more from a Trading Platform”
58% of UK Investors Choose Professional Guidance over 'Finfluencers’
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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