iFOREX Reports Stronger H1 2026 Performance Despite Currency Pressure
Online broker iFOREX reported solid business performance for 2026 first half. The company expects revenue of around $27.0 million for H1 2026. Slightly lower than the $27.6 million recorded in H1 2025. But a 25% increase compared to H2 2025, when revenue stood at $21.5 million. The company also expects adjusted EBITDA of about $4.2 million on a constant currency basis. It matches the Board's expectations.
Strong Israeli Shekel
iFOREX said the stronger Israeli Shekel (ILS) reduced its reported earnings during the second quarter. Most of the company's operating costs are paid in ILS. But it reports its financial results in US dollars. The result is adjusted EBITDA expected to be around $2.4 million on a non-constant currency basis. The USD/ILS exchange rate reached its lowest level since 1993 during the period. The Board expects exchange rates to keep affecting costs. Now, it estimates full-year operating costs will be about $2 million higher in US dollar terms than originally expected.
Client Growth
The company expanded its customer base during the first half of the year.
Compared with H1 2025:
- New client onboarding increased by 19%.
- Active clients grew by 8%.
- Average revenue per user (ARPU) declined by 9%.
Compared with H2 2025:
- New client onboarding increased by 22%.
- Active clients rose by 9%.
- ARPU increased by 17%.
iFOREX also ended the period with around $12 million in net cash and no debt.
UAE Expansion
iFOREX has formally submitted its application for a UAE CMA Category 5 licence. Important to expand its presence across the Middle East and support its long-term growth plans, as per the company.
Technology a Key Focus
Also, the company invested in tech during H1 2026. It appointed Daniel Shalom as Chief Operating Officer to help integrate advanced tech into its operations. iFOREX also launched new corporate websites for iFOREX.com and iFOREX.eu. The company said the updated websites will help it respond to market conditions faster.
About iFOREX
iFOREX (LON:IFRX) is an online trading platform that offers forex and CFD trading. It was founded in 1996. iFOREX provides numerous trading instruments, including currencies, commodities, indices, and shares. The company aims to deliver a user-friendly trading experience with advanced tools and educational resources. It strives to empower traders with the knowledge and tools to succeed in the financial markets.
Wrapping Up
iFOREX delivered steady operational growth in H1 2026. Although currency movements weighed on reported earnings, the company said its underlying performance remains in line with expectations.
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