According to the company’s most recently published statistics, ETX Capital has been one of the busiest and most popular Forex trading platforms of the year. The UK-based company also unveiled a brand new website and company logo, consolidating multiple platforms into one streamlined interface that aims to accommodate the needs of all traders. Despite the new look, the company is still providing a state-of-the-art MT4 and binary options trading platform.
Making Adjustments to Something that Was Not Broken
Apparently the management staff at ETX Capital is disregarding the old saying “if it isn’t broke, don’t fix it,” and is opting instead for the “if it can be improved, let’s improve it” mind-set. They’re building this new brand image on a solid foundation though, with revenues growing by 38% and reaching more than £34 million in 2014. Similar increases were seen in 2015, culminating in the decision to centralise operations into a mega platform in 2016. Analysts expect that 2016 will bring a similar or better result than the past two years given the equity indices seen earlier this year.
One of the UK’s Biggest Trading Platforms Going Global
As of last year, traders in the UK accounted for about 50% of ETX’s total user share. While the brand is still one of the dominant Forex brands in Great Britain, it is expanding out into other countries at a fast pace, so the percentage of UK users is dropping as the percentage of international users continues to increase. Last year they opened up an office in Shanghai, showing an intention to put more focus on the Asian market, which comprises a significant share of their user base. They also redesigned their South African website, yet another move that indicates the business is looking to make a push globally.
Consolidating the ETX Network into One Platform
Also in 2015, ETX acquired Alpari UK’s customer base and implemented a major update to the trading platform and mobile app interfaces. This year the company took the next step of bringing their assets together under one roof for the sake of efficiency and customer satisfaction. Previously the ETX Trader, ETX TraderPro, and mobile interface were all separate platforms that operated independently of each other. Now you get a similar user experience regardless of your membership level or device. This was an inevitable step as the rest of the world moves towards a “universal computing” mindset in which apps are having the appearance of their interfaces synchronized across all device types.
Management Changes and Possibility of Going Public
In addition to changing their logo, redesigning their websites, and centralising their digital platforms, ETX also added a few new experienced members to their board, including Mark Preston (former CEO of City Index) Clare Hafner (appointed as Director of ETX’s parent company Monecor), Arman Tahmassebi (COO), and Andrew Woolley (CFO). With such a strong campaign to revamp the brand and its management team there has been speculation that ETX might be thinking of going public at some point this year.
Sources: prnewswire.com / etxcapital.co.uk / leaprate.com