iFOREX Sees Trading Performance Slump Due to Japanese Yen Intervention
iFOREX Financial Trading Holdings Ltd., which operates as 'iFOREX,' issued an update on its trading performance. The company reported good underlying progress in the first half of 2026 but noted that recent trading has been weaker than expected.
In a July update, iFOREX stated that it was on track to meet expectations for the year. However, since then, August has seen unusually low trading activity, with very low market volatility contributing to the situation.
The company cited an event as a major factor: the Japanese Ministry of Finance and US Treasury's joint intervention in the Japanese Yen on July 30-31. This intervention led to a sharp appreciation of the Yen against the US Dollar, which negatively impacted iFOREX's trading performance due to its clients' exposure.
iFOREX expects its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for 2026 to range between $0.5 million and $2.5 million, down from previous expectations. Despite the current challenges, the company's key performance indicators (KPIs), such as new customers and total deposits, remain positive.