INFINOX’ Jay Mawji Discusses iFX EXPO, Tighten Regulation and More

INFINOX Capital Ltd (INFINOX) is a globally recognized UK-based FX broker that provides trading technology across multiple assets and Contracts for Difference to clients around the world.

Jay Mawji, director of INFINOX, today joins Fazzaco to talk about iFX EXPO and share his expert opinion on regulation changes.

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Fazzao: Hello, as a start, can you first tell us more about INFINOX Capital?

Jay: INFINOX has been regulated and offering a premium service to our clients since 2009. The business has grown significantly over the years and the INFINOX brand has offices in over 13 countries. Our strong ethos of building relationships and personal service has been the cornerstone for us to establish a retail business, a partners business (IX Partners) and an Institutional business (IX Prime). We have always been competitive and have partnered with the leading providers across the industry to make sure our clients experience trading at the cutting edge.

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Fazzao: Fazzaco has learned that INFINOX Capital will attend the iFX EXPO Dubai. What opportunities does an event like iFX EXPO 2021 offer you? 

Jay: With a growing client base in the Middle East and the opportunity to meet our existing clients from afar, the iFX EXPO is a perfect event and location for INFINOX. It is also a great opportunity to showcase The IX Prime offering, which has been an extremely popular product over the past few months.

Fazzao: In the post-pandemic era, would you choose to attend an online expo and why? 

Jay: INFINOX is a relationship driven business. “Online” works, but nothing replaces face to face relationships. The service we offer our clients has gone from strength to strength over the pandemic and our clients have worked closely with us, it's a great opportunity to be able to reach beyond the screen.

Fazzao: You will be on the expert panel. Could you tell me more about it ?

Jay: The industry has seen a significant shift in what instruments and how clients have traded. This Panel will discuss this in more detail and share their views on how these changes will impact liquidity and as we move back towards what was the previous normal, it will be interesting to see how brokers and providers align themselves with the changing liquidity landscape.

Fazzao: Recently, the CFD rules from the Securities Commission of The Bahamas came into effect. What impact did this have on your business? 

Jay: The SCB is one of the most recognised regulators and their recent changes only add to ensuring that the SCB provides an appropriate regulatory framework to allow all participants to engage. INFINOX have always looked to apply the higher standard, so the recent changes fit well with our participation.

Fazzao: What steps have you taken to ensure you are compliant with the new regulations that come from offshore jurisdiction? 

Jay: We work closely with our compliance and legal teams to have the right regulatory framework in place at all times. Regulation is an ever evolving landscape (and quite rightfully so). 

Fazzao: How do you see the forex regulatory framework changing worldwide? Will offshore regulation be the next stop following Europe and Australia? 

Jay: European and Australian regulators are currently taking the lead with driving forward regulatory change. We have seen a number of regulators around the world issue consultation papers and there have been some interesting proposals; most of which appear to find the right balance of protecting clients and creating the environment for clients to trade. What is particularly welcoming are the regulatory changes around reporting, best execution, capital adequacy - it is so important for brokerages to continue to develop their governance structures as the industry grows. 

Fazzao: Besides the regulatory framework, what upcoming trends do you see emerging in the FX industry? 

Jay: Over the years, we have seen technology and instruments offered by brokers focused on allowing more clients to trade. The recent “reddit” traders illustrate how important social media/online can be. Bringing trading platforms closer to the user seems to be gathering momentum, don’t be surprised to see a closer interaction between social media channels and trading platforms.