INFINOX Registers 234% YoY Jump in IX Social Accounts Across Latin America in Q3 2022

INFINOX, a London-based Forex and CFD broker, has reported its trading volumes for the third quarter of 2022 (Q3 2022), unveiling a surge of over 75% on a yearly basis in the number of new accounts opened globally on IX Social, the firm's social trading platform.

Compared to new accounts in Q2 of the same year, the figure rose around 30%. Specifically, Latin America witnessed an impressive year-over-year growth rate of 234% in new sign ups for IX Social.

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"The explosive growth in Latin American users signing up to INFINOX's IX Social account is the result of a number of factors - a younger, more cooperative trader profile in Latin America, the necessity to diversify wealth in Latin American countries due to currency instability and historically high inflation, and the unique possibilities of INFINOX's IX Social account," INFINOX explained.

Sam Chaney, Head of Sales at INFINOX, added, "Our IX Social tool fits like a glove to this trader, because it offers them a community in which they can discuss market movements, understand the dynamics and even get inspired by other traders. Basically, it is a win-win situation. We will continue to develop our IX Social tool, so as to make sure it serves the needs of the 'new trader' in the most optimal manner."

Last month, Fazzaco reported that INFINOX has introduced 560 new stock CFDs ​to its trading lineup, bringing the total number of trading instruments available to the company's customers to over 900.