Why was Conotoxia a new home for Forex services for so many in 2020?

Closing the year 2020 with a successive increase in turnover, revenue and number of transactions, new products offered to clients and powerful analyses and educational zone are just a few to name for Conotoxia Ltd. The company shined; its demand for Forex services grew incredibly fast, and it aims at even further strong growth, thanks to, among others, LMAX Global offering its Polish customers to transfer their accounts to Conotoxia Ltd.

Back in December 2017, Conotoxia Ltd. launched Forex services for users of the portal found at Cinkciarz.pl or Conotoxia.com, which also provides access to a wide range of financial services, including currency exchange, international money transfers, multi-currency cards, multi-currency lending services and the Conotoxia Pay online payment system.

"Within a team of Forex experts and enthusiasts, we decided to design an offer that we would like to use as traders ourselves. The "know-how" and our experience in this area influenced the direction of development," explains Grzegorz Jaworski, CEO of Conotoxia Ltd.

The company's turnover in 2020 increased by 6 times compared to 2019. On a two-year basis, the turnover growth was more than 24 times. In 2020, revenue turned out to be 362% higher year-on-year, while it increased by almost 13 times on a two-year basis. The number of transactions increased almost 6-fold year-on-year, customer base increased 2-fold, and deposits increased almost 8-fold, confirming the Forex service provider's outstanding performance.

In January 2020, the company rolled out a comprehensive multimedia educational zone for traders. Four new types of investment accounts were also made available. It was a perfect time for another new feature

to launch - users of Advance STP accounts started trading on 11 stock Indices with never so low transaction cost. Also, in October, traders gained the possibility to fund their accounts through quick bank transfers and PayPal, thanks to changes introduced in the portal. 

Last December, investors got a second trading platform besides cTrader, MetaTrader 4, and a Zero Commission STP trading account dedicated to it. Low trading fees, as in the case of the EUR/USD, allow customers to reduce spread costs.

"It gives us great pleasure that our work, efforts and ideas are reflected in the creation of a place where both experienced traders, as well as those taking their first steps in the Forex market, can find an offer tailored to their needs. At the same time, we see what prospects we still have ahead of us and the vision of development of the entire Conotoxia Holding group, of which we are part," summarizes Grzegorz Jaworski.

What becomes an opportunity and another challenge for the company is the fact that the British broker LMAX Global has offered all its Polish clients to transfer their trading accounts to Conotoxia Ltd. This way, they will still be able to enjoy the execution of LMAX orders and receive the benefits from attractive pricing conditions offered by Conotoxia Ltd. Shortly, the company belonging to Conotoxia Holding group has plans to expand its offer further and start territorial expansion.

Forex Trading is provided by Conotoxia Ltd. (CySEC no. 336/17), which has the right to use the Conotoxia trademark. 76.44% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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