<p>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.</p><p>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 <a href=”https://www.financemagnates.com/forex/brokers/infinox-capital-turns-profitable-in-fy2020-with-solid-revenue-jump/” target=”_blank” rel=”follow”>two previous consecutive years</a>, respectively.</p><p>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.</p><p>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.</p><p>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 <a href=”https://www.financemagnates.com/forex/infinox-reports-75-growth-in-ix-social-accounts/” target=”_blank” rel=”follow”>75 percent growth in client acquisition</a> in the third quarter of 2022.</p><p>Expanding Industry Services</p><p><a href=”https://www.financemagnates.com/tag/infinox/” target=”_blank” rel=”follow”>Infinox </a>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.</p><p>”[Last year’s growth] has mainly been due to the introduction of its IXO Prime brand, where Infinox offers <a href=”https://www.financemagnates.com/terms/l/liquidity/” target=”_blank” id=”47c3bef3-27ee-4953-8504-159e1b829b33_1″ class=”terms__main-term”>liquidity</a> 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 <a href=”https://www.financemagnates.com/terms/t/trading-platform/” target=”_blank” id=”f85800b2-ccf5-4f50-9e8e-780d32afc6f6_1″ class=”terms__secondary-term”>trading platform</a>,” the Companies House filing stated.</p><p>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.</p><p> Now, the broker further plans to expand its product offerings in the ongoing financial year.</p><p>”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.”</p>
This article was written by Arnab Shome at www.financemagnates.com.
