INFINOX, a global group currencies
Forex
Foreign exchange or forex is the act of converting the currency of one country into the currency of another country (which has a different currency); for example, converting British Pounds to US Dollars, and vice versa. Currency exchange can be done at a physical counter, such as at a currency exchange, or on the internet through brokerage platforms, where currency speculation takes place, known as forex trading. The foreign exchange market, by its very nature, is the largest trade in the world
Foreign exchange or forex is the act of converting the currency of one country into the currency of another country (which has a different currency); for example, converting British Pounds to US Dollars, and vice versa. Currency exchange can be done at a physical counter, such as at a currency exchange, or on the internet through brokerage platforms, where currency speculation takes place, known as forex trading. The foreign exchange market, by its very nature, is the largest trade in the world
Read this term and CFD broker, provided some insight into its performance in 2022, reporting a 215% year-over-year (YoY) growth in new accounts or new users in 2022. The broker attributed the growth to increasing its activities in Latin America, Asia, Middle East and North Africa, Africa and Southeast Asia Regions.
INFINOX, in a statement on Thursday, said the growth was the product of its “simplified approach” to customer onboarding, which simplified the process of opening, verifying and trading with an account for its customers.
Giving more details, INFINOX reported a sharp increase in first deposits (FTD). The strongest growth emerged from Latin America where FTDs jumped over 200%, followed by Asia with FTDs jumping 112%. Additionally, the broker noted that customer downloads of IX Social, its social copy trading app, doubled by 120% in 2022. Narrowed down to a specific region, the highest number of downloads of IX Social emerged from Asia where the figure jumped 237% last year.
“We are now looking to build on these advances as we focus on a more regionalized strategy for the year ahead,” INFINOX Founder and CEO Robert Berkeley said in the release. The brokerage firm stressed that it plans to further strengthen its presence in Latin American and Asian markets.
INFINOX Capital doubles its 2022 turnover
Meanwhile, INFINOX Capital, in its published annual results for its UK operations for the financial year 2022, recorded a 105% growth in turnover, which amounted to more than 17 million. pound sterling. The brokerage group’s revenues in this market have trended upwards from £8.3m to £10.16m over the past two years.
finance tycoons reports that INFINOX Capital also generated gross profit of £8.5 million in fiscal year 2022, which ended March 31 last year. This figure represents a 22% increase in gross profit from the previous year’s £6.6m.
INFINOX, a global group currencies
Forex
Foreign exchange or forex is the act of converting the currency of one country into the currency of another country (which has a different currency); for example, converting British Pounds to US Dollars, and vice versa. Currency exchange can be done at a physical counter, such as at a currency exchange, or on the internet through brokerage platforms, where currency speculation takes place, known as forex trading. The foreign exchange market, by its very nature, is the largest trade in the world
Foreign exchange or forex is the act of converting the currency of one country into the currency of another country (which has a different currency); for example, converting British Pounds to US Dollars, and vice versa. Currency exchange can be done at a physical counter, such as at a currency exchange, or on the internet through brokerage platforms, where currency speculation takes place, known as forex trading. The foreign exchange market, by its very nature, is the largest trade in the world
Read this term and CFD broker, provided some insight into its performance in 2022, reporting a 215% year-over-year (YoY) growth in new accounts or new users in 2022. The broker attributed the growth to increasing its activities in Latin America, Asia, Middle East and North Africa, Africa and Southeast Asia Regions.
INFINOX, in a statement on Thursday, said the growth was the product of its “simplified approach” to customer onboarding, which simplified the process of opening, verifying and trading with an account for its customers.
Giving more details, INFINOX reported a sharp increase in first deposits (FTD). The strongest growth emerged from Latin America where FTDs jumped over 200%, followed by Asia with FTDs jumping 112%. Additionally, the broker noted that customer downloads of IX Social, its social copy trading app, doubled by 120% in 2022. Narrowed down to a specific region, the highest number of downloads of IX Social emerged from Asia where the figure jumped 237% last year.
“We are now looking to build on these advances as we focus on a more regionalized strategy for the year ahead,” INFINOX Founder and CEO Robert Berkeley said in the release. The brokerage firm stressed that it plans to further strengthen its presence in Latin American and Asian markets.
INFINOX Capital doubles its 2022 turnover
Meanwhile, INFINOX Capital, in its published annual results for its UK operations for the financial year 2022, recorded a 105% growth in turnover, which amounted to more than 17 million. pound sterling. The brokerage group’s revenues in this market have trended upwards from £8.3m to £10.16m over the past two years.
finance tycoons reports that INFINOX Capital also generated gross profit of £8.5 million in fiscal year 2022, which ended March 31 last year. This figure represents a 22% increase in gross profit from the previous year’s £6.6m.
