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Investing.com -- Online trading platform iFOREX is contemplating a listing of its shares on the London Stock Exchange (LON:LSEG) (LSE). The fintech firm aims to expand its customer base and enhance its brand visibility, as announced last Friday.
iFOREX was established in 1996 by Eyal Carmon. It provides a platform for Contract for Difference (CFD) and forex trading, offering a variety of financial instruments. These include commodities, indices, shares, and cryptocurrencies.
The company’s chief, Itai Sadeh, highlighted the appeal of the London capital market in an intention to float statement. He noted that London is one of the most competitive capital markets globally, with a profound understanding of fintech firms.
iFOREX plans to use the Initial Public Offering (IPO) proceeds to enhance its branding and adopt AI-driven technologies. Additionally, it aims to acquire new regulatory licenses to extend its reach into new markets and deepen its presence in existing ones.
For the year ending December 31, iFOREX reported a trading income of $50.1 million. It also recorded an adjusted pre-profit of $7.6 million.
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