Following a 53% leap in client trading volumes in 2023, leading Retail FX and CFDs broker Capital.com has announced interim results for the six months ended 30 June 2024 (H1 2024) which include continued, but more modest growth.
First half financial highlights at Capital.com
- Revenue grew significantly, driven by higher trading activity, with Group Net Revenue up by 35%.
- Total number of registered accounts grew by 63%.
- Total client trading volumes increased by 6% to $725bn (H2 2023: $683bn), or $121 billion monthly.
- Total number of trades increased by 7% to 50m (H2 2023: 46m).
Operational highlights
- Continued investment in talent, IT and second line infrastructure to ensure sustainable, long-term growth.
- Global headcount increased by 17% to 728 (H2 2023: 621) 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.
- Selective investments made to grow UK and EU teams, namely in the Technology and Engineering department.
- 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.
Senior Management Team Appointments
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. Jessica was previously VP Corporate Development, Strategy & Investor Relations at Zepz, which operates two leading global payments brands: WorldRemit and Sendwave.
In addition, during H1 2024 three new regional CEOs were appointed at Capital.com 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).
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.”
About Capital.com
Capital.com is a high-growth fintech company empowering people to participate in financial markets through simple and innovative online trading platforms. Launched in 2016, its intuitive award-winning platform —available on web and app —enables investors to trade thousands of world-renowned markets. To help investors trade with confidence, the platform is fitted with robust risk management controls, transparent pricing and extensive educational content to support clients in their trading journeys.
Capital.com has a global network with offices located in leading business and financial centres including London, Dubai, Warsaw, Vilnius, Sofia, Limassol, and Melbourne. Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) under registration number 793714. Capital Com SV Investments Limited is Authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under licence number 319/17. Capital Com Australia Pty Ltd is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393. Capital Com Online Investments Ltd is a Company registered in the Commonwealth of The Bahamas and authorised to carry out Securities Business by the Securities Commission of The Bahamas with licence number SIA-F245. Capital Com Mena Securities Trading LLC is authorised and regulated by the Securities and Commodities Authority (SCA), under license number 20200000176.
