Capital.com: $725bn total client trading volumes in first half of 2024

Capital.com, a Limassol-based high-growth global trading platform and fintech group whose trading volumes surpassed USD$1trn in 2023 has announced interim results for the six months ended 30 June 2024 including a 6% increase in total client trading volumes taking the value to to $725 billion.

An announcement from the company noted that revenue grew significantly during the first six months of this year, driven by much higher trading activity. Key figures include that Group Net Revenue grew by 35%, the total number of registered accounts grew by 63%, the total number of trades increased by 7% to 50m compared to 46m in the second half of 2023 (H2 23), and the aforementioned total client trading volumes increased by 6% to $725 billion compared to $683 billion in H2 23.

Operational highlights, meanwhile, include continued investment in talent, IT and second line infrastructure to ensure sustainable, long-term growth.

According to the company, these included that global headcount increased by 17% to 728 compared to 621 in H2 23 "as the Group continues to grow and as part of our commitment to ensuring we have the strongest possible infrastructure to serve our global client base."

Also, selective investments were made to grow UK and EU teams, namely in the Technology and Engineering department, the company continued.

"The Middle East continues to be a strong contributor to growth. In March, Capital.com received approval to deal in securities from the UAE’s Securities and Commodities Authority. Capital.com was also recognised as the fastest growing tech-enabled platform in the Middle East for the third-straight year by Deloitte Technology’s Fast 50 programme," it continued.

Capital.com also outlined Senior Management Team Appointments made so far this year.

In H1 2024, Capital.com appointed Jessica Bliesner as Group Chief Operating Officer. "Based in London, Jessica will be responsible for spearheading the Group’s strategic initiatives and optimising processes to drive greater efficiency across Capital.com’s regional operations. In her new role, Jessica will work closely with the Senior Leadership Team to ensure Capital.com continues to deliver value to its clients and stakeholders while driving a culture of growth and innovation across the business," the company said.

Three new regional CEOs were appointed over the first half "to build strong local leadership teams and drive growth and innovation in each market. Rupert Osborne was appointed CEO of Capital Com UK Limited (Capital Com UK), Campbell MacPherson was appointed CEO of Capital Com Australia Pty Ltd (Capital Com Australia), and Tarik Chebib was appointed CEO of Capital Com MENA Securities Trading LLC (Capital Com MENA)," the announcement continued.

And, Ariel Segev, Group Chief Financial Officer, Capital.com, commented, “We are delighted to report a strong performance for the first half of 2024, marked by a 63% increase in new user accounts and a 35% rise in net revenue. These results underscore our strategic investments in talent, IT, and second-line systems, which are driving our global growth. Our commitment to innovation and excellence has solidified Capital.com’s position as a leading tech platform in our key markets. As we continue to expand our global footprint and enhance our services, we remain dedicated to delivering exceptional value to our clients and stakeholders.”