Infinox Revenues Double in Fiscal 2017, Profits Rise

Infinox, an FCA-regulated online retail brokerage for foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term and CFDs, is continuing to post solid results. After the company rebranded in July 2016, it has been posting consistently positive numbers.

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Revenues more than doubled in fiscal 2017, that ended on March 31st, to £17.5 million. The number is higher by 110 percent when compared to fiscal 2016. The company’s cost of sales and administrative expenses roughly doubled, to £12.5 million and £3.7 million.

The expansion effort of the brokerage paid off with net profits coming in at £1.1 million, when compared to just over £350,000 in fiscal 2016.

The firm is committed to expanding into new markets and has recently hired a new sales head for the Asian region. Back in August, Penny Kong joined the firm after spending over five years at GAIN Capital.

The rebranding to Infinox has proven to be a substantial boost for the company, after it formerly went by GO Markets UK under its FCA license between 2014 and 2016. The company, led by CEO Robert Berkeley, committed to creating a new brand from scratch, a step which came at a crucial time and differentiated the firm in a highly competitive industry.