Capital.com, which operates a retail trading platform in the UK and globally, announced on Tuesday that it had added more than 1 million new users to its platform in Q2 2022, which is 19.44 percent higher than the previous quarter.
With this addition, the trading platform ended the quarter with 6.4 million accounts. However, it is not known how many of them are actively trading.
The quarterly trading volume, on the other hand, came in at $255 billion for the months between April and June. It was 3 percent lower than the first quarter of the ongoing year mostly due to the bearish market sentiments.
While the European client base of the trading platform accounted for 31 percent of all trading volume, the demand by UK traders jumped 18 percent quarter-over-quarter.
“Over the past couple of years, Capital.com has been on a spectacular growth trajectory. Today, our focus is on ensuring a greater and bolder presence across mature, regulated markets, such as the UK and western Europe,” said Capital.com’s Group CEO, Peter Hetherington, who took over the charges in May.
“This is in line with our goal to expand our global footprint in step with the highest regulatory standards.”
Focus on the UK Business
With the increasing client demand in the United Kingdom, the retail trading platform is focused on its business in the country. The group recently injected £2.5 million into the UK arm, thus doubling the core capital to £4.7 million.
Additionally, the decision occurred as revenue of the UK unit of the broker group jumped to £15.4 million in 2021 from the previous year’s £2.0 million. Moreover, the profits doubled to around £1.9 million.
“The UK is a strategically important market for the group, and this investment reflects our commitment to further grow and expand in the UK,” a Capital.com spokesperson told Finance Magnates.
