Trading and investing platform Capital.com has reported growth in client numbers of 223 per cent during the quarter ended 31 March, 2021, to more than two million users.
In Q1 2021, the number of people who opened an account on Capital.com for the first time increased by more than 233 per cent compared to Q4 2020. Over the same period, total trading volume across the platform grew by 78 per cent to reach USD82 billion.
The platform’s growth in Q1 was in part driven by the global market rally and rising retail participation in financial markets owing to national lockdown measures. These external factors coupled with Capital.com’s strengths as a regulated and transparently priced platform enabled the platform to engage with more clients.
“The extraordinary growth on the platform is testament to Capital.com’s ability to build a strong business that is responsive to wider changes. This is just the beginning for us. Looking ahead, we will continue to deliver solutions and services and make improvements to our platform to empower more people to trade with confidence and ease,” says Jonathan Squires, Chief Executive Officer, Capital.com.
Over the same period, clients also increased their trading activity on the platform. The total number of trades executed by clients increased by 240 per cent in Q1 compared to the previous quarter with notable retail interest in cryptocurrencies. Of the top five most traded assets on the platform in Q1, the first three included cryptocurrency pairs dogecoin/USD, ripple/USD and ether/USD. Derivatives trading on Gamestop and AMC were the other two top traded assets during the period. By contrast in Q4 2020, ripple/USD was the top traded asset followed by crude oil, gold, Tesla and bitcoin/USD.
“Not all clients are allowed to trade cryptocurrency derivatives but in those markets where it is permissible, there has clearly been a growing interest in the fledgling asset class. However, the volumes traded in crypto derivatives by individual investors are still relatively small,” notes Squires.
Capital.com enables clients to trade more than 3,000 of the world’s most popular indices, commodities, cryptocurrencies, shares and currency pairs through its web and mobile platforms. The platform adheres to a transparent pricing structure with no hidden fees, and clients have access to free education and trading tools, including its all-in-one app to learn finance, Investmate.