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 MetricsAccording 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 2023In 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. FCA on whistleblower; Equinix’s Q1 results; read today’s news nuggets here.
This article was written by Solomon Oladipupo at www.financemagnates.com.
