NEWS
Global trading platform and fintech group Capital.com today announced that total client trading volumes reached more than $1.2 trillion in 2023. This is a rise of 53% from the previous year and marks the first time client trading volumes have breached the $1 trillion mark since the company’s inception in 2016. This achievement speaks to Capital.com’s ability to remain resilient and entrepreneurial despite uncertainties across the broader market.
Affirming this strong and sustained growth trajectory, Capital.com has earned itself the coveted top spot on the 2023 Deloitte Tech Fast 50 rankings for the 3rd consecutive year. The Deloitte Technology Fast 50 program celebrates and recognizes the fastest-growing technology companies headquartered in the Middle East or Cyprus. Capital.com was ranked the #1 fastest-growing technology company among 50 nominees, with an unprecedented revenue growth rate of 4011% over the last four years.
Commenting on the award win, Ariel Segev, Group Chief Financial Officer, Capital.com, said: “It is a great honour to be recognised as the fastest growing tech company at the DME Fast 50 for the 3rd year in a row. This win demonstrates our tenacity and resilience as a high-growth fintech company and we are extremely lucky to have our headquarters in a dynamic and thriving tech hub such as Cyprus. With its conducive, business-friendly ecosystem, deep talent pool and facilitative legislation, Cyprus is the ideal jurisdiction for tech scale-ups such as ours to supercharge their growth strategies.”
This industry win coincides with more recent growth reported across the Capital.com platform. In Q1 2024, total global trading volumes on the platform reached $337bn. Over the same period, the number of active traders on the platform was up 17% from the previous quarter. Most trading volumes came from clients in the Middle East, followed by Germany, Italy, and the Netherlands.
The announcement also comes only a few weeks after Capital.com launched it SCA-regulated office in Dubai, announcing its latest subsidiary, Capital Com MENA Securities Trading LLC, as the broker’s regional headquarters.
Indices and commodities were the top two most traded markets by volume on the platform in Q1 2024. More than 79% of total volumes traded across the platform in Q1 reached index-related markets, specifically the US Tech 100 (Nasdaq-100), US30, DE40, and the US500.
Daniela Hathorn, Senior Market Analyst, Capital.com, said: “The hype around semi-conductors was carried into Q1 2024, which helped boost tech stocks and the US Tech companies listed on the Nasdaq Stock Exchange. Traders also shifted their mentality in Q1 and started to welcome the resilience in the US economic data, moving away from the ‘good-data-is-bad’ rhetoric that dominated most of 2023. This allowed stocks to move to new highs even if it meant the Federal Reserve was less likely to start cutting rates.”
Over the same period, trading volumes in commodity markets accounted for 58% of total volumes traded, making it the second most heavily traded market by volume on the Capital.com platform. Trading volumes were largely concentrated in gold and crude oil.
