SquaredFinancial Posts Strong Q3, Client Base Jumps 220%

SquaredFinancial Posts Strong Q3, Client Base Jumps 220%

Trading volume and gross profits of the company also surged significantly in the quarter.

SquaredFinancial Group, which operates a multi-asset broker brand, disclosed its third-quarter financials, reporting a 266 percent growth in its volumes, along with a 200 percent increase in the gross profits.

The massive surges in volumes and profits have resulted from the spike in the client base of the broker that saw a growth of 220 percent in the quarter.

The growth of the brokerage groups key metrics came when it has expanded its products and services and will continue the expansion. Earlier this year, the company partnered with Lusis AI Lab to deliver Artificial Intelligence-based forex trading strategies and also started to offer MetaTrader 5 trading platform.

“We set out to build something different, listen to what clients want, and provide stability and security,” said Philippe Ghanem, Founder and Executive Chairman of SquaredFinancial Group.

“In the coming months, we will continue to release new products, new funding channels, more online banking services, and asset management, access financial markets, and help clients towards achieving financial freedom.”

SquaredFinancials offerings include trading services with forex and contracts of difference (CFD) instruments of other asset classes. The broker group further highlighted that gold was the significant driver bedding the recent volume surge.

New Board Members

Apart from the financials, the company also announced that it has added three new members to its board: Dirk Van Daele, Vusi Thembekwayo, and Philippe Préval. These appointments, according to SquaredFinancial, will further strengthen the governance and future growth prospects.

“Each new member of our Board, each one of them brings a specific and different skillset, strengthening our Corporate Governance, Emerging Markets and Corporate Finance expertise that will help build, grow and promote SquaredFinancial in the coming years,” Ghanem added.