Cyprus-headquartered fintech secures top spot for 3rd consecutive year at the 2023 Deloitte Tech Fast 50 rankings
LIMASSOL, CYPRUS / ACCESSWIRE / May 7, 2024 / Capital.com, the high-growth global trading platform and fintech group, has today announced that total client trading volumes reached more than $1.2 trillion in 2023. This is a rise of 53% from a year earlier and marks the first time client trading volumes have breached the $1trn mark since the company’s inception in 2016. This achievement speaks to Capital.com’s ability to remain resilient and entrepreneurial even amid uncertainties across the wider market.
Affirming this strong and sustained growth trajectory, Capital.com has earned itself the much coveted top spot on the 2023 Deloitte Tech Fast 50 rankings for the 3rd consecutive year. The Deloitte Technology Fast 50 programme celebrates and recognises the fastest-growing technology companies that have their headquarters either 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. The vast majority of trading volumes came from clients in the Middle East, followed by Germany, Italy and the Netherlands.
The top two most traded markets by volume on the platform in Q1 2024 were indices and commodities. More than 79% of total volumes traded across the platform in Q1 found its way into 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.
“Risk appetite was strong throughout most of the quarter, a key driver of the rally in equities. That said, escalations in geopolitical tensions led investors to diversify their portfolios, causing gold to appreciate over 10% in the first three months of the year as safe-haven demand increased. Meanwhile, continued attacks on Russian refineries and fears about tight supply stemming from the conflict in the Middle East has pushed oil prices higher,” added Hathorn.
Click here to find out more about Capital.com’s ranking at the 3rd Edition of the Deloitte Technology Fast 50 Programme.
ENDS
Media Contact
PR for Capital.com
Shamillia.sivathambu@capital.com
+44 7900 016 469
Notes to Editors
About Capital.com
Capital.com is a high-growth fintech company empowering people to participate in financial markets through simple and innovative online trading platforms. Launched in 2016, its intuitive award-winning platform -available on web and app -enables investors to trade thousands of world-renowned markets. To help investors trade with confidence, the platform is fitted with robust risk management controls, transparent pricing and extensive educational content to support clients in their investment journeys.
Capital.com has a global network with offices located in leading business and financial centres including London, Dubai, Warsaw, Vilnius, Sofia, Limassol, and Melbourne. Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 793714. Capital Com SV Investments Limited is Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised to carry out Securities Business by the Securities Commission of The Bahamas with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.
To find out more, please visit: www.capital.com
This press release is for media use only. It’s not intended for individual investors, and doesn’t include personal advice or recommendations.
DISCLAIMER
Spread bets and/or CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.84% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider. You should consider whether you understand how spread bets and/or CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
Crypto Derivatives are not available to Retail clients registered with Capital Com (UK) Ltd. Spread bets are available only to UK clients.
The value of shares and ETFs bought through a share dealing account can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results.
Capital Com (UK) Limited (“CCUK”) is registered in England and Wales with company registration number 10506220. CCUK is authorised and regulated by the Financial Conduct Authority (“FCA”), under registration number 793714. Capital Com SV Investments Limited (“CCSV”) is registered in Cyprus with company registration number 354252. CCSV is regulated by Cyprus Securities and Exchange Commission (CySEC) under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a limited liability company (company number 209236B) registered in the Commonwealth of The Bahamas and authorised to carry on Securities Business by the Securities by the Securities Commission of The Bahamas (“SCB”) with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.
Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.
The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.
To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.
Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.
View the original press release on accesswire.com