IronFX, a forex broker based out of Cyprus has shared the news of their recent extraordinary achievement. The company was able to collect an $100 million investment from a family office in Middle East.
The total investment will be sent in a few installments with the first one going out immediately. The investors will also be granted a seat in the IronFX board of directors and an additional seat for each of the investment installments they make.
It seems that the investment plan is going in the direction of using the IronFX as a sort of a platform for acquisition and consolidation. As it is not surprising, due to recent changes in industry regulation and an overall increase in competition, smaller firms are having a much more difficult time to make money considering that the changes have very much benefited those with deeper pockets.
IronFX CEO Markos Kashiouris commented on all of this: ‘’Over the past eight years IronFX has established itself as a global retail FX business and brand focusing on quality of service, wide and sophisticated product range, impeccable execution and localized presence. We are now ready to expand our capital base to ensure the next phase of the Company’s growth.’’
He also added: ‘’Our ability to attract sizeable investment and the quality and reputation of our new international partners demonstrates the significant strides made by the Company over the past years, as well as its current market position and future outlook. It also signifies an important foreign direct investment and a vote of confidence in the Cyprus financial sector where the large majority of the Company’s operations are located. This reflects the fact that Cyprus combines many favorable features that make it a unique investment destination since, among others, investment firms are subject to a robust fair and proactive supervisory environment.’’
‘’We are pleased to be welcoming an institutional investor that shares our vision about the evolution of the market and our differentiated value proposition. The Company is aiming at expanding its partnerships, brands, account management force, offices as well as effect further operational enhancements and automations that will drive both top and bottom line growth. IronFX will also be looking for acquisition opportunities in the broader retail and institutional FX sector.’’ Kashiouris stated.