Infinox Capital Limited, a foreign exchange trading broker with international presence including Africa, has announced 61 per cent increase in revenue and 28 per cent rise in trading volumes to $553bn in 2020.
The company stated on Friday that the result came on the back of the company’s resilient expansion strategy and increasing investor demand across the globe.
Regional Director at Infinox, Dany Mawas, said the growth increased the company’s global headcount by some 38 per cent.
“The pandemic also triggered market volatility, which brought with it investment opportunities and a surge in investor demand. Since launching in the African market in 2020, and following recent regulatory approval in South Africa and Mauritius, we are welcoming more African investors to our fast-growing and extensive client base,” Mawas stated.
Speaking on Infinox’s expansion into Africa, Mawas added, “Committed to the financial prosperity of traders in the continent, we see our expansion into African markets as an integral stepping stone for the success of African traders. This, coupled with our access to high level of liquidity, meant that we are well poised to tackle the challenges of 2021 and beyond.”
While 2020 was a year of change and challenges for the investment sector, Infinox’s Chief Executive Officer, Robert Berkeley, explained, “The rise in trading volumes to hit the $553bn mark during somewhat of a trying year is an astounding milestone for the business. However, while we are very much a global business, we retain the agility, entrepreneurialism and attention to client service that has helped us reach the level of success we enjoy today.
“The launch of our community trading app, IX Social, has brought the excitement and power of real-time trading to a whole new audience, and its popularity is fast becoming a cornerstone of our global growth.”
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