Capital.com Gains from Index Trading Demand: Q3 Volume Surpasses $450B

Client trading volume on Capital.com skyrocketed to over $450 billion in Q3 2024, which is 20 percent higher than the previous quarter. The volume was $337 billion in Q1, meaning the nine-month trading volume on the platform has already surpassed last year’s total of $1.2 trillion.

Index Trading Remains Popular

The increased trading demand last quarter was driven by strong interest in indices, commodities, and FX markets, the brokerage revealed. It further added that index trading accounted for about 53 percent of its total quarterly trading volume.

“Our Q3 results highlight the sustained growth of our platform,” said Dana Massey, Chief Marketing, Product & Technology Officer, Capital.com.

The London-headquartered broker further revealed that the number of executed trades on the platform between July and September increased by 19 percent quarter-over-quarter to 31 million.

Additionally, the number of new user accounts rose by 9 percent, though it remains unclear how many of these new accounts are funded. Interestingly, traders from the Middle East generated most of the index trading demand on the platform, “followed closely” by those in Europe.

“With anticipation for the US presidential elections building in Q3, we've seen increased interest in indices and FX pairs, specifically those involving the dollar,” said Daniela Sabin Hathorn, Senior Market Analyst, Capital.com. “The capital injection by China to revive its struggling economy was also a key driver of the momentum in equities throughout September as traders set aside concerns about growth in China.”

Expanding Tech Team

Earlier, Capital.com revealed that its net group revenue between January and June jumped by 35 percent, while the total number of registered accounts grew by 63 percent. Although the broker did not provide exact figures for these two metrics, it told Finance Magnates that “revenue growth is in the triple-digit million range and registered accounts are in the millions range.”

Now, the broker is also investing heavily in technology and has plans to double the headcount of its technology and engineering unit over the next 12 months. It also announced plans to hire 200 new professionals across its global offices.

“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,” added Massey.