Capital.com adds 1m accounts in Q2 despite risk off sentiment
Capital.com has reported over one million new user accounts in Q2 2022 as part of its corporate results for the quarter ending 30 June 2022.
The addition of more than 1 million accounts in Q2, a figure 19.44% higher than the previous quarter, takes Capital.com’s total number of user accounts to 6.4 million.
The global retail trading and investing platform also stated trading activity was most pronounced in the UK and Europe. Total trading volumes across the platform reached US$ 255 billion, slightly lower than the previous quarter (-3%).
Capital.com’s European client base, including the UK, continued to trade actively across the platform despite the bearish sentiment, with European clients accounting for 31% of all trades in the second quarter while trading activity among UK clients increased by 18% in Q2 compared to Q1 2022.
Peter Hetherington, Group CEO of Capital.com, said: “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. This is in line with our goal to expand our global footprint in step with the highest regulatory standards.
Cryptos were absent from top-traded list in Q2
Capital.com noted that the top five most traded assets by volume on the platform in Q2 were indices and commodities.
The trading platform revealed that traders shifted increasingly towards short positions on indices, looking to profit from a falling market.
Cryptocurrencies were absent from the top-traded list in Q2 2022, “perhaps reflecting traders’ growing bearish sentiment and risk-off approach”, the firm stated.
Crypto Derivatives are not available to retail clients registered with Capital Com (UK) Ltd.
“As markets turn choppy, the self-directed investor will be seeking assistance and greater support through education and risk management tools. We will continue to prioritise best-in-class insights, information and analytics to help clients adapt and hone their trading strategies as markets turn more bearish”, chief executive Hetherington added.
Peter Hetherington leads Capital.com since May
In May 2022, the group encompassing Capital.com, Currency.com, and the upcoming Shares.com, appointed Peter Hetherington as its new Group Chief Executive Officer (CEO), succeeding Jonathan Squires, who resigned after a phenomenal growth phase.
The new CEO will oversee the group’s expansion into new markets while building a resilient, compliant operation. The company already has key offices located in the UK, Gibraltar, Singapore, Australia, and Cyprus.
Peter Hetherington is known within the FX and CFD industry for his role in taking IG Group to the top. He joined IG in 1994 and served as Group CEO from 2015 to 2018 until he left the FX broker.