iForex Announces Plans For London Stock Exchange Listing
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
iForex, a broker that focuses on contracts for differences (CFDs), has revealed plans to list its shares on the main market of the London Stock Exchange. The company has not yet shared details about its target valuation or other financial figures related to the offering.
According to the announcement, the initial public offering will be directed toward institutional investors through a placing, along with an offer to intermediaries using the Bookbuild platform, aimed at retail investors in the United Kingdom.
iForex Aims To Strengthen Its Position In CFD Trading With Planned London Listing
The firm was established by Eyal Carmon, who continues to manage it under two separate entities—one licensed in the British Virgin Islands and the other regulated in Cyprus. Carmon is expected to remain the primary shareholder following the listing and has agreed to sign a “relationship agreement” with the company.
He will also continue supporting the business by offering his experience through a consulting arrangement with Recap Ltd., a company he fully owns. Day-to-day operations of the iForex Group are now led by Chief Executive Officer Itai Sadeh.
The decision to go public comes shortly after another major trading platform, eToro, made a strong market debut. Although both companies provide trading services, their models are different. iForex offers only CFDs, whereas eToro has a wider product offering, with CFDs forming just a small part of its total services.
iForex Wants To Regain Growth Momentum Despite Recent Financial Setbacks
Once listed in London, iForex will join a group of well-established CFD brokers already operating in the city, including IG Group, Plus500, and CMC Markets.
Additionally, documents filed with the UK’s Financial Conduct Authority show that iForex’s financial performance has been on the decline. Its trading income has dropped significantly, with a large portion of its revenue coming from Asian markets—especially Japan and India.
Profit before tax has fallen even more steeply, and adjusted EBITDA margins have decreased by half. The company also reported negative operational cash flow, just below zero.
The broker attributed its weaker performance to a mix of outside pressures and internal challenges. A drop in global market volatility led to reduced trading activity, particularly in the foreign exchange space, while stronger competition pushed spreads lower.
In addition to the financial issues, iForex has seen a decrease in the number of active clients. The client base shrank noticeably, especially in Europe and Latin America. However, the company reported some stability in its operations across Asia, which helped balance out the broader decline to some extent.
