LeapRate Exclusive… LeapRate has learned that FCA regulated, London based institutional FX broker FIXI plc has raised an additional £2.2 million (USD $3.0 million) in capital from its shareholders, and hired a number of senior executives, ahead of a planned expansion into Retail FX.
First, regarding the fundraising…. FIXI shareholders led by Goran Drapac – who is also a major shareholder in Australia-based Retail FX firm AxiTrader – have put an additional £2.2 million into the company in a series of transactions from August 2017 through to March 2018. FIXI plc now has paid in capital of £13.1 million, although accumulated losses over a number of years have eaten into a good chunk of that. In 2017 FIXI posted a £2 million loss, as the company made some changes ahead of a planned launch of Retail FX brokerage services planned for this year.
The capital raised, as well as an upgrade of the company’s FCA license last June, have been done with an eye toward expanding the company’s services to Retail traders, which we understand has recently launched. FIXI has already placed more of an emphasis on MetaQuotes’ next generation MT5 platform, and has established a client service center to support Retail clients.
FIXI’s ownership group named Jason Gibson as the company’s CEO earlier this year, as was exclusively reported by LeapRate, and we understand that a number of other management hires have been made since, including:
- Keith Goldson, former Chief Commercial Officer at AvaTrade, has joined FIXI as CCO and to head marketing activities.
- Harry McGregor, who was a trader and Head of FX at GKFX between 2011-2017, has joined FIXI as Head of Trading
- Kieran Price, former Divisa Group CFO has joined as CFO.
The company’s new executive team brings a wealth of experience around the MT4 / MT5 product and in the Retail FX sphere in general.
Jason Gibson, CEO of FIXI plc commented:
It’s an exciting time currently for FIXI and I’m very pleased to be working with such a dynamic, experienced, knowledgeable and forward-thinking management team. The restructuring of the team means we are well placed to grow the business and focus on further expansion throughout 2018 and well into 2019. Our recently launched MT5 product offering has seen a large uptake from both retail and professional traders and reflects the innovativeness of this trading platform.