PRESS RELEASE
CFI, the region’s leading online trading provider, proudly revealed a record-breaking performance in the first quarter of 2024. A testament to the group’s commitment to excellence and innovation, CFI achieved significant milestones across various areas of its business, including new records in trading volumes, client numbers, strategic partnerships, product enhancements, and global expansion initiatives.
Record Growth and Recent Business Achievements
In Q1 2024, CFI continued its trajectory of success, building on a record performance from 2023 to achieve another record-setting quarter. The group experienced a remarkable 24% increase in trading volume compared to Q1 2023, reaching a new high of $557 billion and placing it among the top brokers globally. This exceptional performance demonstrates CFI’s ability to consistently attract and retain clients, significantly outperforming in a competitive market. Moreover, CFI expanded its active client base by an impressive 80% compared to Q1 2023, further reaffirming its position as a leader in the industry. With a team exceeding 400 industry professionals, CFI remains dedicated to providing top-tier trading services and driving growth on a global scale.
Expanding Global Influence Through Strategic Partnerships
Throughout Q1, CFI announced several ground-breaking new partnerships with prestigious organizations, including Paris Saint-Germain, AC Milan, and the Saudi Super Cup. These collaborations are designed to enhance further the group’s brand presence and visibility in key markets worldwide. Building on existing sponsorships with Sheffield United FC, Emirates Airlines, and Etihad Airways, among others, CFI continues leveraging powerful strategic partnerships to expand its reach and engage with untapped global audiences.
Investing in Advanced Product Offerings and Infrastructure
In Q1 2024, CFI invested heavily in its product offerings and infrastructure, notably enhancing its proprietary trading app with the launch of its AI Trading Assistant beta. This addition highlights the group’s dedication to innovative, AI-powered solutions, providing traders with sophisticated tools for global markets. Furthermore, the group introduced options trading on its Multi-Asset platform. CFI also expanded its platform offering by integrating with TradingView, empowering traders with one of the world’s most powerful platforms and becoming the first MENA-based broker to do so.
Strategic Expansion and Market Outreach Initiatives
In another branch of record-breaking results, CFI embarked on several strategic initiatives to reach new markets and establish its name as the region’s leading broker. CFI successfully planned and executed its global seminar roadshow, delivering synchronized educational trading seminars across MENA, showcasing an unparalleled demonstration of organizational expertise and commitment to financial empowerment. CFI also celebrated the opening of its new office towers, CFI Plaza, in Jordan and Lebanon, further strengthening its foothold in the region. Following strategic expansion plans set in Q1, CFI recently obtained a Category 1 FSP license from the region’s FSCA, marking the group’s commitment to empowering traders in the region and expanding across the continent. This comes after a remarkable year in 2023, during which CFI expanded into Egypt, Kuwait, Oman, and Palestine with physical, regulated offices and acquired a Category 1 SCA license in the group’s home, UAE.
Executive Commentary
Commenting on the group’s Q1 2024 achievements, Hisham Mansour, Co-founder and Managing Director of CFI, stated, “These milestones reflect our steadfast commitment to empowering traders worldwide and highlight our relentless pursuit of innovation to deliver an exceptional trading experience. As the leading broker in the region, we remain dedicated to pioneering new avenues to access the global market, broadening our international reach, and consistently raising the bar for excellence in our industry.”
