CFI Financial saw “impressive growth across all key metrics” during the first quarter of 2023, the multi-asset broker said on Thursday in its financial metrics shared with Finance Magnates. The broker said it generated “record trading volumes, new accounts and active clients.”

CFI Financial Grows Key Metrics

According to the report, CFI Financial’s trading volumes jumped 57% during the first three months of 2023 when compared to the same period last year. Additionally, the broker saw the number of active accounts on its platform surge 147% during the period. On top of this, newly opened accounts on the brokerage’s platform increased 68% during the quarter.

However, the company did not give specific details on the value of the record trading volumes, the total number of new accounts and active clients. CFI Financial attributed the record performance to its dedicated team and quality service delivery.

The milestone builds on CFI Financial’s significant performance in 2022. During the year, the broker reported 94% growth in its trading volume during the first three quarters. In addition, it saw its new customer acquisition skyrocket 155% year-over-year during the period, with new accounts surging by about the same measure.

"We are proud of our achievements so far, but we know that there is always more to be done," said Hisham Mansour and Eduardo Fakhoury, the Founders and Managing Directors of CFI Financial Group.

CFI Financial Eyes New Markets in 2023

In November last year, CFI Financial acquired El Mahrousa, a local Egyptian brokerage firm, expanding its presence in the Middle East and North Africa (MENA). The local firm has now been rebranded as CFI and a new trading app launched, CFI said in the report.

In MENA, the brokerage operates regulated entities in the United Arab Emirates, Jordan and Lebanon in addition to other subsidiaries in the United Kingdom, Cyprus and Mauritius. However, this year, the broker plans to launch in new markets to expand its market reach and drive growth in new regions. Previously, the online trading company told Finance Magnates that it intends to open new offices in MENA, Africa and Latin America.

"We are committed to delivering the best possible service to our clients, and we are confident that our ongoing investments in our infrastructure and technology will continue to drive our growth towards more and better,” said Mansour and Fakhoury in the report.

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