Capital.com, a global trading platform and fintech group, has disclosed total client trading volumes exceeding $1.2 trillion in 2023. This figure represents an increase of 53% compared to the previous year, marking the first instance where client trading volumes have surpassed the $1 trillion mark since the company's establishment in 2016.
Active Traders up by 17%
In the first quarter of 2024, total global trading volumes on the platform reached $337 billion, accompanied by a 17% increase in the number of active traders compared to the previous quarter. The bulk of trading volumes originated from clients in the Middle East, followed by Germany, Italy, and the Netherlands.
Ariel Segev, Group Chief Financial Officer, Capital.com, said: “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.”
Indices and Commodities Dominate in Trading
During the same period, indices and commodities emerged as the two most traded markets by volume on the platform. Index-related markets, notably the US Tech 100 (Nasdaq-100), US30, DE40, and the US500, accounted for over 79% of total volumes traded in the first quarter of 2024. Additionally, commodity markets witnessed substantial activity, representing 58% of total volumes traded, with a significant focus on gold and crude oil.
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."