iFOREX Revenue Down Despite Strong Client Onboarding and Regulatory Progress
iFOREX Financial Trading Holdings has reported its trading update for the six months to June 30, 2026. The company expects H1 2026 revenue of approximately $27 million, a slight decrease from $27.6 million in H1 2025 but an increase of 25% compared to H2 2025's $21.5 million.
New client onboarding rose 19% year-on-year and active clients increased by 8%, while average revenue per user fell 9%. Compared to H2 2025, onboarding increased by 22%, active clients rose by 9%, and ARPU (average revenue per user) grew by 17%.
iFOREX attributed the decrease in reported earnings to currency swings. The Israeli shekel strengthened against the US dollar during the second quarter, with the USD/ILS rate hitting its lowest point since 1993. This resulted in a $2 million increase in operational costs in dollar terms compared to the company's initial forecast.
iFOREX has also made regulatory progress, submitting a Category 5 licence application to the UAE regulator and appointing Daniel Shalom as chief operating officer to expand artificial intelligence integration across its operations. The company listed on the London Stock Exchange at 195 pence per share in February 2026.