Leading UAE-based online trading provider CFI has revealed record performance in the first quarter of 2024. As a testament to the group’s commitment to excellence and innovation, CFI has achieved significant milestones in various areas of its business, including new volume records transactions, customer numbers, strategic partnerships, product enhancements and global expansion initiatives.
Record growth and recent business achievements
In Q1 2024, CFI continued its run of success, building on a record performance from 2023 to achieve another record quarter. The group saw a remarkable 24% increase in transaction volume compared to the first quarter of 2023, reaching a new high of $557 billion (or $186 billion in average monthly trading volume on the CFI) and placing it among the top brokers worldwide. This outstanding performance demonstrates CFI’s ability to consistently attract and retain customers, significantly outperforming in a competitive market.
In addition, CFI expanded its active customer base by an impressive 80% compared to the first quarter of 2023, further confirming its position as an industry leader. With a team of over 400 industry professionals, CFI remains committed to providing world-class commercial services and driving growth on a global scale.
Expanding global influence through strategic partnerships
During the 1st quarter, CFI announced several ground-breaking new partnerships with recognized organizations such as Paris Saint-Germain, AC Milan and the Saudi Arabian Super Cup. These partnerships are designed to further strengthen the group’s presence and visibility in key markets worldwide. Building on existing sponsorships with Sheffield United FC, Emirates Airlines and Etihad Airways, among others, CFI continues to leverage strong strategic partnerships to expand its reach and engage with untapped global audiences.
Investment in advanced product offerings and infrastructure
In Q1 2024, CFI invested heavily in its product offerings and infrastructure, notably enhancing its proprietary trading application with the beta release of the AI Trading Assistant. This addition underscores the group’s commitment to innovative AI-based solutions, providing merchants with sophisticated tools for global markets. In addition, the group introduced options trading on the Multi-Asset platform. CFI also expanded its platform offering by integrating TradingView, empowering traders with one of the most powerful platforms in the world and becoming the first MENA-based broker to do so.
Strategic expansion and market outreach initiatives
In another industry record result, CFI undertook several strategic initiatives to reach new markets and establish its name as the region’s leading broker. CFI successfully planned and executed the global seminar roadshow, delivering synchronized trading seminars across MENA, demonstrating an unparalleled display of organizational expertise and commitment to economic empowerment. CFI also celebrated the opening of its new office towers, CFI Plaza, in Jordan and Lebanon, further strengthening its position in the region. Following strategic expansion plans set out in Q1, CFI recently received a Category 1 FSP license from the region’s FSCA, signaling the group’s commitment to empower traders in the region and expand across the continent. This comes on the heels of a remarkable year in 2023, which saw CFI expand into Egypt, Kuwait, Oman and Palestine with physical, audited offices and gain an SCA Class 1 license in the group’s home of the UAE.
Executive Comment
Commenting on the group’s achievements for the first quarter of 2024, Hisham Mansour, Co-Founder and CEO of CFI, said:
“These milestones reflect our steadfast commitment to empowering merchants worldwide and underscore our relentless pursuit of innovation to deliver an exceptional shopping experience. As a leading broker in the region, we remain committed to pioneering new avenues of global market access, expanding our international reach and steadily raising the bar of excellence in our industry.”
About CFI
CFI Financial Group is MENA’s Leading Broker with over 25+ years of experience, leading the sector with the highest number of regulated entities and regional offices, including key locations such as London, Dubai, Larnaca, Beirut, Amman and Cairo. Specializing in online trading services across a wide range of markets including stocks, currencies and commodities, CFI offers highly competitive trading conditions including zero pip margins and no commissions. The company is a pioneer in integrating artificial intelligence into commerce and developing advanced tools and applications. CFI is committed to excellent customer service and provides 24/7 support, detailed technical reports and educational webinars. CFI strongly supports elite sports, establishing partnerships with prominent global teams such as AC Milan and Paris Saint-Germain, as well as national teams and federations within MENA. The group is also committed to community involvement in the sectors in which it operates, actively participating in various Corporate Social Responsibility (CSR) initiatives.