CFI Financial revealed to Finance Magnates some of its performance metrics for the first three-quarters of 2022, reporting 94 percent growth in trading volume. It was achieved as the new customer acquisition increased by 155 percent year-over-year, a figure which is similar to the new accounts added in the period.
The number of active accounts of traders on CFI also jumped by 80 percent.
However, the broker neither mentioned the absolute figure of trading volume it handled in the period nor did it reveal the number of new customers it onboarded. The total number of customer accounts on the platform is also unknown.
The demand for the broker’s offerings picked up in the third quarter of 2022, specifically in the month of September, the brokerage detailed.
“First of all, we are very proud of the entire CFI team for the amazing commitment to helping attain breakthrough results this year,” said Hisham Mansour and Eduardo Fakhoury, CFI’s Founders and Managing Directors, in a joint statement.
Growth Plans
The offerings of CFI include trading services with forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and contracts for differences (CFDs) of several other popular asset classes. The operations of the broker are heavily focused in the Middle East with its regulated entities in the United Arab Emirates, Jordan and Lebanon. On top of that, the broker is regulated in the United Kingdom, Cyprus and Mauritius.
Now, CFI has plans for further geographical expansion with the acquisition of new licenses, but it did not reveal the jurisdictions it is going to target. Moreover, the broker will open new offices in MENA, Africa and Latin America.
“We have been investing in technology, human resources, and marketing to support our growth plans. This is something we will continue doing in the coming years, in addition to expanding our presence into new markets while staying focused on bringing a world-class trading experience to our customers,” Mansour and Fakhoury said.
CFI Financial revealed to Finance Magnates some of its performance metrics for the first three-quarters of 2022, reporting 94 percent growth in trading volume. It was achieved as the new customer acquisition increased by 155 percent year-over-year, a figure which is similar to the new accounts added in the period.
The number of active accounts of traders on CFI also jumped by 80 percent.
However, the broker neither mentioned the absolute figure of trading volume it handled in the period nor did it reveal the number of new customers it onboarded. The total number of customer accounts on the platform is also unknown.
The demand for the broker’s offerings picked up in the third quarter of 2022, specifically in the month of September, the brokerage detailed.
“First of all, we are very proud of the entire CFI team for the amazing commitment to helping attain breakthrough results this year,” said Hisham Mansour and Eduardo Fakhoury, CFI’s Founders and Managing Directors, in a joint statement.
Growth Plans
The offerings of CFI include trading services with forex
Forex
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value.
Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest trading market by volume. According to the Bank of International Settlements (BIS) latest survey, the Forex market now turns over in excess of $5 trillion every day, with the most exchanges occurring between the US Dollar and the Euro (EUR/USD), followed by the US Dollar and the Japanese Yen (USD/JPY), then the US Dollar and Pound Sterling (GBP/USD). Ultimately, it is the very exchanging between currencies which causes a country’s currency to fluctuate in value in relation to another currency – this is known as the exchange rate. With regards to freely floating currencies, this is determined by supply and demand, such as imports and exports, and currency traders, such as banks and hedge funds. Emphasis on Retail Trading for ForexTrading the forex market for the purpose of financial gain was once the exclusive realm of financial institutions.But thanks to the invention of the internet and advances in financial technology from the 1990’s, almost anyone can now start trading this huge market. All one needs is a computer, an internet connection, and an account with a forex broker. Of course, before one starts to trade currencies, a certain level of knowledge and practice is essential. Once can gain some practice using demonstration accounts, i.e. place trades using demo money, before moving on to some real trading after attaining confidence. The main two fields of trading are known as technical analysis and fundamental analysis. Technical analysis refers to using mathematical tools and certain patterns to help decide whether to buy or sell a currency pair, and fundamental analysis refers to gauging the national and international events which may potentially affect a country’s currency value. Read this Term and contracts for differences (CFDs) of several other popular asset classes. The operations of the broker are heavily focused in the Middle East with its regulated entities in the United Arab Emirates, Jordan and Lebanon. On top of that, the broker is regulated in the United Kingdom, Cyprus and Mauritius.
Now, CFI has plans for further geographical expansion with the acquisition of new licenses, but it did not reveal the jurisdictions it is going to target. Moreover, the broker will open new offices in MENA, Africa and Latin America.
“We have been investing in technology, human resources, and marketing to support our growth plans. This is something we will continue doing in the coming years, in addition to expanding our presence into new markets while staying focused on bringing a world-class trading experience to our customers,” Mansour and Fakhoury said.
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