After trade volume grew by over 20% in 2010, FXPro has plans for global expansion in 2011. They’ve already opened up shop in a few other countries outside Cyprus, and to improve their offering.
They also report a profit growth of 50% in 2010. FXPro makes $1000 off of every client, which is considered high in the industry. FXPro had plans for an IPO, but these plans have been postponed for the time being. Will this also happen in 2011?
Here’s the full press release that FXPro released towards 2011, with more interesting details:
19 January 2011: FxPro Financial Services Ltd (FxPro), an award-winning global retail broker in FX and CFDs, today announced its strategic intent to continue its exceptional growth of 2010, with further expansion of its geographic reach and core product offering in 2011.
2010 was another record year of business development for FxPro. Trading volumes on its internationally popular www.fxpro.com platform grew by just over 20%, from $440 billion in 2009 to over $530 billion. Increased efficiencies and a focus on providing consumer-centric services for retail traders across the globe helped FxPro realise a net profit growth of over 50% on 2009.
The past 12 months also saw the global FX broker expand its international footprint with a new representative office in Spain (Madrid) and UK subsidiary company, FxPro UK Limited – both of which have already boosted business penetration within their respective markets. Servicing a diverse client-base in 149 countries, FxPro launched innovative BlackBerry ® and iPhone-based mobile trading platforms, to offer even greater flexibility and global reach.
Recently awarded the top honour of ‘Forex Provider of the Year’ at the prestigious FT Investors Chronicle Awards 2010, FxPro is finalising a bespoke range of FX & CFD products and is researching physical expansion into the Middle East, Asia and Australia.
Denis Sukhotin, founder of FxPro, commented: “In 2011, FxPro will expand its on-the-ground presence in key growth markets and enhance its services portfolio with a number of innovative new products. Providing all of our clients worldwide with the highest standards of service and research, and the very best spreads and pricing in the industry, remains central to our offering. Our goal is to be the world’s preferred FX broker and everyone associated with FxPro is focussed on delivering upon that charter.”
The FxPro website can be accessed at www.fxpro.com
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