iFOREX Evaluates Strategic Listing On The London Stock Exchange
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London’s capital markets could soon welcome another player in the fintech space, as iFOREX, an online trading platform, explores the possibility of listing on the London Stock Exchange. Founded by Eyal Carmon in 1996, iFOREX offers a digital platform for trading Contracts for Difference (CFDs) and forex, spanning commodities, indices, stocks, and cryptocurrencies.
The company serves a wide range of retail investors globally, and now it is preparing for a potential public listing to boost its credibility and expand its visibility in the market.
iFOREX Outlines Expansion Plans And Unveils New Trading Features
The company revealed that the proceeds from the planned Initial Public Offering would be used to strengthen its brand and boost its presence in the market. It also stated that part of the funds would go into improving the platform with modern technologies and securing more regulatory licenses.
iFOREX said it earned $50.1 million from trading, and before paying tax, its profit was $7.6 million. The company didn’t say when it will start the IPO or how much it hopes to get, but many private fintech companies are now choosing to go public to grow bigger.
Recently, iFOREX added a new tool called a trading assistant. The company shared that this helper was made to answer traders’ questions quickly. It said the tool would make trading easier and help people find what they need at the right time.
Additionally, the firm launched a new fund management feature that allows traders to move capital into a secure space while maintaining instant access, without incurring transfer fees. The Vault tool focuses on addressing common challenges traders face with risk management and liquidity.
iFOREX Aims To Strengthen Client Protection And Enhance Trading Conditions
Even with these new tools, some people are not happy with iFOREX’s services. A trading expert from Traders Union, Anton Kharitonov, told users to try other brokers that give better deals. He said many people using iFOREX are not fully pleased. iFOREX is a registered broker that works with skilled traders who trade with their own money.
The broker is part of a company called Formula Investment House Ltd. It was started by some bankers and forex dealers. The company later got permission to run its trading platform from the British Virgin Islands Financial Services Commission. iFOREX says it wants to keep clients’ money safe and give good trading conditions.
Today, the group offers online trading to traders in many parts of the world and in different languages. In some places, iFOREX uses the name Formula Investment House Ltd., which is a licensed company under the British Virgin Islands’ financial authority.
