Growth in Asia and Pacific is anticipated to decline to 4.0 percent in 2022 after the robust comeback of 6.5 percent seen in 2021.
The initial deposit for the international broker increased by more than 200% in South America.
In its fiscal year 2022 report, INFINOX Capital reported a 150% increase in revenue.
Global FX and CFD broker INFINOX revealed some details on its 2022 performance, estimating a 215% increase in new customers or accounts. The broker ascribed the gain to a rise in its business in the areas of Southeast Asia, Africa, the Middle East, Latin America, and Asia.
In a statement issued on Thursday, INFINOX said that the rise is the result of their “streamlined approach” to customer onboarding, which made it easier for its clients to create, verify, and trade with accounts.
In South America, INFINOX’s FTDs soar by more than 200 percent.
Providing further information, INFINOX reported a significant increase in its new depositors (FTDs). The region with the highest rise was South America, where FTDs increased by almost 200%, and Asia, where FTDs increased by 112%. The broker also pointed out that in 2022, client downloads of its social copy trading app, IX Social, increased by 120%. When IX Social downloads were broken down by area, the greatest number came from Asia, where the number increased by 237% in the previous year.
Robert Berkeley, the founder and CEO of INFINOX, stated in the release, “We are now hoping to build on these accomplishments as we focus on a more regionalized approach for the year ahead. The brokerage business stressed that it intended to increase its market share in South America and Asia.
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Revenue at INFINOX Capital Doubles by 2022
In the meanwhile, INFINOX Capital reported a 105% increase in revenue, or over £17 million, for the entire fiscal year 2022 in its published full-year results for its activities in the United Kingdom. The brokerage group’s market revenue has been increasing over the previous two fiscal years, going from £8.3 million to £10.16 million.
The fiscal year 2022, which concluded on March 31 of the previous year, saw INFINOX Capital produce a gross profit of £8.5 million, according to Finance Magnates. The amount reflects a 22% increase in gross profit over the £6.6 million of the previous year.