Trading platform Capital.com plans to significantly expand its technology team after reporting strong growth in trading volumes in Q3 2024. The Cyprus-based fintech, which surpassed $1 trillion in trading volumes last year, recorded client trading volumes of $450 billion in Q3—up 20% from the previous quarter. Additionally, the platform saw a 9% rise in new user accounts and a 19% increase in trades, totaling 31 million.
Index trading led the platform's activity, accounting for 53% of all trading volumes, with high engagement from clients in the Middle East and Europe.
Dana Massey, Capital.com’s Chief Marketing, Product & Technology Officer, commented, “Our Q3 results highlight the sustained growth of our platform as we continue to deliver the best trading experience for our clients globally. Supported by our strong track record and growth metrics, we have ambitions to further diversify our product offering and develop pioneering technologies that enhance efficiency across our award-winning platform.”
Senior Market Analyst Daniela Sabin Hathorn attributed the increased trading activity to key market events, including anticipation surrounding the U.S. presidential elections and China’s economic interventions. “With anticipation for the US presidential elections building in Q3 we've seen increased interest in indices and FX pairs, specifically those that included the dollar. The capital injection on behalf of China to revive its struggling economy was also a key driver of the momentum in equities throughout the month of September,” noted Hathorn.
Hathorn also pointed to other major market movements, such as the summer's jobs data and economic indicators, which impacted equity sentiment. “As economic data has improved, so has sentiment in equity markets, with the key global indices starting Q4 close to record highs,” she added.
To support its growth, Capital.com will be hiring 200 new technology professionals in Java and Angular software engineering, DevOps, and Site Reliability Engineering. Positions will be available in the company’s global offices, including London, Warsaw, and Limassol, with remote options as well.
"As a tech-first company, expanding our engineering team is crucial to scaling our services and meeting the demands of our growing global client base. “We’re looking to bring on top talent from around the world across engineering, technology support, and development to ensure Capital.com remains at the forefront of fintech innovation,” Massey stated.
With its planned technology expansion, Capital.com aims to reinforce its position in the competitive fintech space, continuing its commitment to enhanced trading experiences and technological advancements for a global audience.
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