Capital.comCapital.com, a renowned global trading platform and fintech group, recently revealed that its total client trading volumes exceeded $1.2 trillion in 2023, marking a 53% increase from the previous year.
This achievement is noteworthy as it is the first time the company’s trading volumes have crossed the trillion-dollar threshold since its inception in 2016.
The first quarter of 2024 continued this upward trajectory with trading volumes on the platform hitting $337 billion.
This period also saw a 17% rise in the number of active traders from the previous quarter.
Notably, the bulk of these trading volumes came from the Middle East, with significant contributions from Germany, Italy, and the Netherlands.
Ariel Segev, Group Chief Financial Officer at Capital.com, commented on the location of their headquarters: “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.”
In terms of market activity, indices and commodities were the most traded sectors during this period.
The indices that saw the highest volumes included the US Tech 100 (Nasdaq-100), US30, DE40, and the US500, making up over 79% of the total volumes in the first quarter of 2024.
Meanwhile, commodities, especially gold and crude oil, accounted for 58% of the total trading activity, indicating significant market participation in these areas.
Daniela Hathorn, Senior Market Analyst at Capital.com, shed light on the market dynamics: “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.”