Interbank FX's rapid growth and unique business model propel the company to the #1 spot on the inaugural list
Salt Lake City, September 2, 2008 — One week after being named the 46th fastest growing privately held company in the U.S. in Inc. magazine's annual Inc. 500, Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, today announced it achieved top honors in Utah Business magazine's first ever Fast 50 awards program—an event which highlighted the 50 fastest growing companies in Utah. Since 2003, Interbank FX's annual revenue increase has exceeded an astounding 32,000 percent.
"When I began Interbank FX, never could I have envisioned the tremendous growth we have experienced over the past five years," said Todd Crosland, Chairman and President of IBFX. "I am so proud of the talented men and women who comprise the IBFX team, without whom this recognition would not be possible. The world-
class service we offer our customers as well as our proprietary trading technology have established us as a leading FX brokerage, and I am so honored to be recognized by the Utah business community for our efforts."
The Utah Fast 50 program was designed to recognize companies for their entrepreneurial spirit, innovative business tactics and skyrocketing revenue growth. Other quality contenders at this year's event included web analytics company Omniture, as well as popular headphone and earbud manufacturer, Skullcandy. IBFX was honored at an event in Salt Lake City on August 27th and will be featured in Utah Business magazine's September issue.
IBFX has achieved several company milestones in 2008 year-to-date, and has experienced rapid growth in customer accounts and trading volume over this same time period. Among the myriad of achievements that demonstrate IBFX's continued value proposition to customers as a trusted forex trading platform include:
- Strong Growth in Customer Accounts: Current customer base in excess of 27,000 active accounts in 140 countries around the globe
- Record Trading Volumes: Notional one-day trading volume of more than $11 billion on June 30, 2008, representing the highest daily trading volume recorded in IBFX's history of operation
- Enhanced Revenue Growth: YTD revenues up more than 140 percent compared to same time period last year
About Interbank FX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX.com) is a leading provider of online forex trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade spot foreign currency online.
Unlike other retail FX brokers, IBFX has distinguished itself as an industry leader with its proprietary tools and services and focus on customer care. This has led to numerous awards and industry accolades that IBFX has compiled. The recognition includes Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
Interbank FX serves over 27,000 clients from more than 140 countries and supports trading volume in excess of US$70 billion per month. The company is regulated as a Forex Dealer Member by the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investing and should only be attempted by experienced traders.