Capital.com, a Cyprus-based fintech company, achieved a remarkable trading milestone in 2023 with client trading volumes hitting $1.2 trillion, marking a significant 53 percent increase from the previous year. This success underscores the company’s growth strategy and innovative technology, positioning it as a leader in the global trading platform landscape.
What trading milestone did Cyprus-based fintech Capital.com achieve in 2023?
In 2023, Cyprus-based fintech company, Capital.com, achieved a monumental trading milestone by recording client trading volumes that soared to an impressive $1.2 trillion. This represents a significant 53 percent increase from the previous year, denoting a major success for the platform established in 2016.
A Landmark in Trading Volume
Cyprus has emerged as a beacon of fintech success as the island’s own Capital.com, a global trading platform, has seen its client trading volumes soar to a staggering $1.2 trillion in 2023. This figure represents a significant 53 percent increase from the previous year, illustrating a monumental milestone for the company, which was founded only a few years ago in 2016. This achievement underscores Capital.com’s tenacity and innovative spirit in the face of fluctuating market conditions.
Capital.com’s remarkable performance is a testament to its solid growth strategy and cutting-edge technology. The company’s success has not gone unnoticed, ranking it at the pinnacle of the 2023 Deloitte Tech Fast 50 for the third consecutive year. The Deloitte Technology Fast 50 is a prestigious programme that spotlights the fastest-growing technology companies located in the Middle East and Cyprus.
The Cyprus Advantage
The impressive ascent of Capital.com is closely tied to the dynamic business environment of Cyprus. Ariel Segev, the Group CFO, expressed immense pride in the company’s achievements and credited the country’s thriving tech ecosystem for their sustained growth. Cyprus provides a fertile ground for technology scale-ups, offering a combination of a skilled workforce, supportive legislation, and a business-friendly climate that is conducive to innovation and expansion.
The island’s strategic location, bridging the gap between East and West, coupled with its EU membership and business-friendly taxation system, makes it an attractive location for fintech firms looking to expand their global operations. Capital.com’s choice to be headquartered in Cyprus has been instrumental in their ability to supercharge their growth strategies and maintain a robust trajectory even amidst market uncertainties.
Trading Trends and Market Analysis
In the first quarter of 2024, Capital.com’s platform experienced a surge in global trading volumes, reaching $337 billion. This period also saw a 17 percent increase in active traders, further evidencing the platform’s escalating popularity. Interestingly, a significant portion of the trade volume originated from the Middle East, with Germany, Italy, and the Netherlands also contributing to the numbers.
Indices and commodities emerge as the most traded markets, with over 79 percent of total volume linked to index-related trades. The US Tech 100 (Nasdaq-100), US30, DE40, and the US500 were particularly notable within these trades. Daniela Hathorn, Senior Market Analyst at the company, observed a shift in trader sentiment as the robustness of US economic data drove a more positive outlook, allowing for strong performance in tech stocks and indices.
The company also pointed out that commodities trading, with a significant focus on gold and crude oil, accounted for 58 percent of total volumes. The quarter saw strong risk appetite, and geopolitical tensions prompted investors to diversify their investments, notably increasing the demand for gold as a safe haven. Simultaneously, concerns over oil supply disruptions, partly due to conflicts in the Middle East, catalyzed a spike in oil prices.
A Hub for Fintech Innovation
The successes of Capital.com are reflective of a broader trend where Cyprus is establishing itself as a hub for fintech innovation. The country’s commitment to creating a supportive environment for technology businesses is reaping dividends, attracting entrepreneurs and investors from around the globe. As the fintech landscape continues to evolve, Cyprus is well-positioned to be at the forefront of this transformative industry, driving forward economic growth and technological advancement.
How did Cyprus-based fintech Capital.com perform in terms of client trading volumes in 2023?
In 2023, Capital.com achieved a monumental trading milestone with client trading volumes reaching $1.2 trillion, showcasing a significant 53 percent increase from the previous year. This remarkable achievement solidifies the company’s position as a leader in the global trading platform landscape.
What factors contributed to the success of Cyprus-based fintech Capital.com?
Capital.com’s success can be attributed to its growth strategy and innovative technology. The company’s relentless focus on providing cutting-edge solutions to its clients has played a pivotal role in its rapid growth and market dominance. Additionally, the supportive business environment in Cyprus, including a skilled workforce, favorable legislation, and a business-friendly climate, has facilitated the company’s expansion and success.
What recent trading trends were observed on Capital.com’s platform?
In the first quarter of 2024, Capital.com experienced a surge in global trading volumes, amounting to $337 billion, along with a 17 percent increase in active traders. The most traded markets were indices and commodities, with a significant portion of the trade volume originating from the Middle East. Notably, indices such as the US Tech 100 (Nasdaq-100) and commodities like gold and crude oil were popular among traders.
How is Cyprus establishing itself as a hub for fintech innovation?
Cyprus is increasingly becoming a hub for fintech innovation due to its commitment to creating a supportive environment for tech businesses. The country’s strategic location, EU membership, and business-friendly taxation system make it an attractive destination for fintech firms looking to expand globally. As a result, Cyprus is attracting entrepreneurs and investors, driving economic growth and technological advancement in the fintech industry.
