StoneX

What StoneX does

StoneX Group Inc. (NASDAQ: SNEX) is a diversified, publicly traded financial services firm headquartered in New York that provides sales and trading, clearing and custody, market intelligence, and risk management services to commercial hedgers, institutional investors, financial institutions, and self-directed clients globally. The firm operates across four core franchises: a non-bank Futures Commission Merchant providing clearing and execution across 40+ derivatives exchanges; a broker-dealer (StoneX Financial Inc.) ranked #1 market maker for OTC ADRs since 2015; cross-border payments and FX services covering 140+ currencies across 180+ countries; and physical commodities supply, trading, and precious metals refining through StoneX Metals Ltd, an LBMA Good Delivery-accredited silver refinery.

Underlying the franchise is a proprietary technology stack including StoneX Hedge (web-based grain merchandising with back-office integration), StoneX Pro (FX platform connecting to 185 markets), StoneX One / StoneX One Pro (multi-asset trading), Farm Advantage (mobile app for U.S. producers), Market Intelligence subscriptions, Know-Risk commodity management software, and StoneX Prime (modular prime services). The firm operates 70+ offices across North America, Latin America, Europe, the Middle East, Africa, and Asia-Pacific, with regulatory permissions spanning FINRA, CFTC, SEC, MAS, SFC, AFSL, and CSRC (the latter via Overseas Intermediary status for SHFE nickel futures).

Revenue is generated primarily through transaction fees: commissions and bid-ask spreads on futures, options, FX, equities, and OTC derivatives; spreads on cross-border payments; and physical commodity trading. Secondary recurring revenue comes from Market Intelligence subscriptions. GTM combines enterprise field sales targeting institutional and commercial hedgers with self-service digital platforms for mid-market clients, and partner integrations (notably Bushel covering 3,500+ grain facilities) for distribution depth. Reported Q2 FY2026 operating revenue was $829.1M with 64% YoY growth, and the firm held a $5B balance sheet supporting liquidity provision across asset classes.

Name

StoneX

Legal name

StoneX Group Inc.

Website

https://stonex.com

Company type

Public

Founded year

1920

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

StoneX Group (NASDAQ: SNEX) is a global financial services firm providing sales and trading, clearing, custody, payments, and risk management to commercial hedgers, institutional investors, and financial institutions across 180+ countries.

Ownership category

akta.pro rank

Product category

Institutional Brokerage and Financial Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

FX & Spot Metals Brokerage (FSAEACAK)

akta.pro secondary industry

Crypto Custody & Exchange Wallet Services (Integrated) (FSADAAAG)

Keywords

• Institutional brokerage services
• Futures commission merchant
• Cross-border payments
• Commodity risk management
• Precious metals trading

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Clearing and Execution Services: StoneX operates as a leading non-bank Futures Commission Merchant (FCM) providing clearing and execution services across 40+ derivatives exchanges. Revenue is generated through commissions and fees on futures and options trades executed and cleared on behalf of clients.
2. Broker-Dealer Services: StoneX Financial Inc. operates as a broker-dealer providing securities trading, market making, and prime services. Revenue is generated through bid-ask spreads on market making, commissions on equity trades, and fees for execution and clearance services.
3. FX and Payments Services: StoneX connects clients to 185 FX markets and facilitates cross-border payments across 140+ currencies. Revenue is generated through spreads and transaction fees on FX trades and payment services, including real-time exchange rates and compliance features.
4. OTC Derivatives and Risk Management: StoneX offers 300+ customizable OTC products and 22 structured products for commodity and FX risk management. Revenue is generated through spreads and fees on OTC contracts tailored to client hedging requirements.
5. Market Intelligence Subscriptions: StoneX provides subscription-based market intelligence covering dairy, grains, softs, livestock, coffee, cocoa, energy, securities, fertilizers, and global macros. Revenue is generated through paid subscriptions to research reports, price forecasting, and market analysis.
6. Interest Rate Swap Trading: StoneX Markets LLC provides interest rate swaps and options as a provisionally registered swap dealer with CFTC. Revenue is generated through spreads on OTC interest rate derivatives including SOFR-based products.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels5 records

Core offering

StoneX is a global financial services firm that provides institutional, commercial, retail, and payments clients with execution, clearing and custody across derivatives, equities, fixed income, FX, and securities lending, alongside commodity risk management, cross-border payments, and physical supply and trading in grains, energy, and precious metals. Its offering combines regulated multi-exchange access in 50+ countries with proprietary electronic trading platforms and a global commercial payments network.

Product overview

StoneX is a diversified financial services company offering an integrated platform of products and services for commercial, institutional, retail, and payments clients. The core offering includes commodity risk management via StoneX Hedge (grain merchandising platform) and Farm Advantage (mobile app for agricultural producers), exchange-traded products and OTC trading across 300+ customizable products, foreign exchange services through StoneX Pro with access to 185 FX markets, cross-border Payments covering 180+ countries, and comprehensive Sales & Trading services including equities (ranked #1 in OTC ADRs since 2015), fixed income, and derivatives. Supporting services include Supply & Trading with physical commodity expertise, Clearing & Custody for securities and futures, Capital Markets for structured finance and securitization, Wealth Management, and Market Intelligence providing analysis across commodities, currencies, and global markets. The company operates The Benchmark Company as its equity research subsidiary and offers specialized precious metals services through StoneX Bullion and StoneX Metals Ltd (silver refinery).

Differentiator

Problem solved

Functional benefit

Brands

• Farm Advantage: Mobile app for U.S. agricultural producers and farmers providing price risk management, margin tracking, cash bids, weather insights, and USDA insurance tools.
• The Benchmark Company
• StoneX Hedge
• StoneX Pro
• StoneX Wealth Management
• StoneX Prime
• StoneX Bullion
• StoneX Plus
• Know-Risk
• StoneX One
• StoneX One Pro
• StoneX Markets
• StoneX Recovery
• Top Third Division
• StoneX Digital
• Boots on the Ground
• StoneX Capital Markets

Products and services

• Institutional Sales and Trading (Listed Derivatives, Equities, Fixed Income) Execution and brokerage services for institutional clients across listed derivatives, equities and fixed income markets globally.
• Clearing and Custody Services Centralized clearing, settlement and custody for listed derivatives, securities and OTC products for institutional and commercial counterparties.
• OTC Derivatives and Hedging Bespoke OTC swaps, options and structured products for commercial commodity, interest rate and FX hedging.
• Cross-Border Payments Regulated cross-border B2B payments, multi-currency accounts and FX settlement for corporates, financial institutions, NGOs and government entities.
• StoneX Pro Proprietary multi-asset electronic trading platform offering FX, CFDs and futures execution with advanced order types and analytics.
• StoneX One Multi-asset self-directed trading and investing platform for individual retail clients offering futures, options, FX and securities execution.
• StoneX One Pro Active-trader tier of the StoneX One platform offering enhanced order routing, advanced analytics and professional pricing.
• StoneX Hedge Cloud-based merchandising and hedge management platform for grain elevators, processors and commercial grain participants.
• Farm Advantage Mobile application for individual farmers and producers providing market quotes, futures trading and cash grain offer management.
• Market Intelligence Subscription-based research, analytics and market intelligence covering agricultural, metals, energy and FX markets.
• Physical Commodity Supply and Trading Physical merchandising, logistics and supply of grains, energy and metals for commercial counterparties worldwide.
• Precious Metals Refining and Logistics (StoneX Bullion) Precious metals refining, assay, storage, logistics and wholesale distribution through the StoneX Bullion franchise.
• Securities Lending and Prime Services Securities lending, securities financing and prime brokerage services for institutional asset owners and asset managers.
• Interest Rate Hedging (Know-Risk) Interest rate swap and hedging program (Know-Risk) helping commercial and institutional clients manage floating-rate exposure.
• Wealth Management and Advisory Advisory wealth management and portfolio services for high-net-worth individuals and family offices.
• Insurance Products Insurance brokerage and risk transfer products distributed through StoneX-affiliated producers to commercial clients.

Quantifiable outcome

• 40% efficiency increase in grain merchandising processes compared to paper-based systems
• +3 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered core and strategic.

• IntegralcoreTechnology or Integration · 19 June 2026Integral expanded its 15-year partnership with StoneX by establishing connectivity at Equinix SG1 data centre in Singapore, creating a third hub alongside New York and London. The arrangement gives StoneX direct access to FX and precious metals liquidity during Asian trading hours with reduced latency, with Integral processing over one million tickets daily at the facility.
• ExpanastrategicStrategic or Co-development Partner · 23 April 2026StoneX Financial Europe GmbH partnered with agri-food intelligence platform Expana to launch Fat Filled Milk Powder (FFMP) as the first contract in a new OTC dairy derivatives suite. The contracts are underpinned by IOSCO Assured EU dairy benchmark prices, expanding tools for dairy market participants to manage commodity price volatility.
• Shanghai Futures Exchange (SHFE)strategicStrategic or Co-development Partner · 22 April 2026StoneX announced day-one access to SHFE Nickel futures and options for clients following regulatory approval by China's CSRC. This marks the first time international participants can access Chinese onshore futures through the Overseas Intermediary (OI) route, positioning StoneX as the largest non-bank FCM with OI permissions.
• WCS International Ltd (WCSI)strategicStrategic or Co-development Partner · 31 March 2026StoneX acquired WCS International, a UK-based wholesale banknotes trading and distribution business, to strengthen its presence in financial services related to banknotes, payments, and foreign exchange. The acquisition adds complementary products and capabilities to StoneX's cross-border payments business.
• The Pathfinder GroupcoreTechnology or Integration · 30 March 2026StoneX partnered with The Pathfinder Group to embed its institutional-grade cross-border payments and FX infrastructure into Pathfinder's WITS wire transfer platform. The integration enables financial institutions to access real-time FX rates, faster settlement, and enhanced transparency for cross-border transactions.
• BushelcoreTechnology or Integration · 24 March 2026Bushel and StoneX partnered to integrate Bush's farmer-facing digital tools with StoneX Hedge grain merchandising platform, providing integrated workflow from offer through settlement. The combined solution serves over 3,500 grain and ag retail facilities, with StoneX customers having hedged more than 1 billion bushels on the platform.
• The Benchmark CompanycoreStrategic or Co-development Partner · 24 March 2026The Benchmark Company, a subsidiary of StoneX Group Inc., announced the inaugural Benchmark-StoneX Quantum Computing Summit scheduled for June 2026, connecting 19 quantum computing companies with institutional investors. The summit highlights quantum sector reaching inflection point with combined vendor revenues exceeding $1B in 2025.
• JBR Recovery LtdstrategicStrategic or Co-development Partner · 1 October 2024StoneX acquired JBR Recovery's precious metal recovery business in October 2024 to strengthen its recycling and refining capabilities, expanding end-to-end metals offerings through the company's LBMA-accredited silver refinery.
• CAB Payments Holdings PLCstrategicStrategic or Co-development Partner · 16 September 2024StoneX submitted acquisition proposals for UK-based CAB Payments at up to 110 pence per share, with potential to create a leading global specialist in emerging markets payments. The company's independent board evaluated the offers amid competing bids from Helios Consortium.
• Octo FinancesstrategicStrategic or Co-development Partner · 13 September 2024StoneX announced agreement to acquire 100% of Octo Finances, a Paris-based fixed income broker, to expand capabilities in Europe and strengthen distribution network. The acquisition will enhance StoneX's fixed income services in bond and convertible sales, debt capital markets, and credit research.
• IonQstrategicStrategic or Co-development PartnerIonQ hosts the Benchmark-StoneX Quantum Computing Summit at its Quantum Computing Labs in College Park, Maryland. The two-day event features site visits, company presentations, expert panels, and keynote remarks from IBM's VP of Quantum Adoption.

Scale indicators23 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• Cargill: Cargill is a privately held agricultural commodity giant with extensive physical trading, processing, and financial market operations. While vastly larger and broader, its commodity risk management and supply/trading business overlaps materially with StoneX's Supply & Trading and agricultural risk franchises.
• Bunge: Bunge is a global agribusiness and food company with grain origination, oilseed processing, and commodity merchandising. Overlaps with StoneX in agricultural commodity hedging, grain elevator risk management services, and physical supply chain logistics.
• Louis Dreyfus Company: Louis Dreyfus is a global merchant and processor of agricultural goods with physical commodities operations across grains, oilseeds, coffee, cotton, and sugar. Comparable to StoneX in commodity supply/trading and risk management, though more vertically integrated into physical assets.
• Jefferies Financial Group: Jefferies is a diversified financial services firm with equities, fixed income, investment banking, and commodities operations. Comparable to StoneX's broker-dealer activities, equities market making, and The Benchmark Company equity research/investment banking subsidiary.
• ADM (Archer Daniels Midland): ADM is a global nutrition and agricultural origination/processing company with significant commodity trading and risk management capabilities. Overlaps with StoneX in grain merchandising, hedging platforms, and supply chain financing for agricultural producers and elevators.

Direct peers

• ED&F Man: ED&F Man is a major London-based soft commodities (sugar, coffee, cocoa) merchant and broker with physical supply chains and derivatives operations. Comparable to StoneX's soft commodities brokerage, physical trading, and commodity risk management offerings.
• Marex: Marex is a London-listed global broker of commodities, FX, and financial products with FCM operations across 40+ exchanges. Directly comparable to StoneX in clearing/FCM, OTC hedging, and prime services model with similar exchange-membership footprint and agricultural commodity focus.
• Interactive Brokers: Interactive Brokers is a leading electronic broker offering multi-asset execution, prime services, and clearing for institutional/professional traders globally. Directly comparable to StoneX's StoneX Prime, StoneX One Pro, and electronic equities/FX trading platforms serving hedge funds and asset managers.
• IG Group: IG Group is a London-listed retail-focused FX, CFD, and spread betting broker with global operations. Comparable to StoneX's FOREX.com (via GAIN Capital acquisition) and StoneX Pro retail/self-directed FX offerings, though IG focuses more narrowly on retail CFD trading.

Emerging players

• TradeStation: TradeStation is an electronic trading platform offering multi-asset execution (equities, options, futures, FX) for active traders. Comparable to StoneX's StoneX One, StoneX Pro, and self-directed trader platform offerings, particularly in FX and futures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/INTLFCStone
• LinkedInlinkedin.com/company/stonex-group-inc

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries18 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about StoneX