iFOREX Financial Trading (LSE:IFRX), the fintech company behind a proprietary online and mobile CFD trading platform, has issued a trading update warning that performance has deteriorated sharply since its half-year update in July.

The company said trading in August has been “unusually subdued,” with low trading income amid generally weak market volatility. This follows an H1 2026 update on 27 July that had described “good underlying progress” in line with expectations.

July 2026 trading income came in at approximately $720,000, sharply down from around $3.1 million in July 2025. iFOREX attributed the decline largely to a coordinated currency intervention by Japan’s Ministry of Finance and the US Treasury on 30 and 31 July, which triggered a sharp appreciation of the yen after it had hit a 40-year low against the dollar.

The move worked against the Group’s net client exposure and also reduced the dollar value of income from yen-funded Japanese client accounts.

As a result, the Board now expects full-year Adjusted EBITDA of between $0.5 million and $2.5 million.

Despite the setback, iFOREX pointed to continued strength in key performance indicators, including a 40% year-on-year increase in new customers in July and an 8% rise in total deposits.

The company reported net cash of approximately $10 million as of 17 August, of which $4 million is ringfenced for regulatory purposes.

CEO Itai Sadeh said the company remains confident in its medium and long-term prospects, citing operational leverage that has historically enabled recoveries following weaker periods. Interim results are expected on 24 September 2026.