Exness Maintains $2T Trading Volume For 6 Consecutive Months
Lately, Exness, a Cyprus broker has been reporting a decline in its trading activities. The data released in October displayed an 8 percent month-over-month dip. The same decline in trading demand was witnessed in September as the company digs to find out the cause of the fluctuation.
Besides the month of September falling under months with decreased readings, the month was the third best for the broker in its operational history. In addition, August was proved as the month which rewarded the broker, with trading demand figures surpassing $2.8 trillion.
Exness activities spiked in 2020 where profit before tax touched $1.29 million. This was caused by the increased retail demand which triggered a steady uptrend in trading activities. The activity spike was however a common trend to most trading platforms during the year.
Compared to 2021, Exness has been performing handsomely. A screen of trading volume in October was $1 trillion and the trend rose to the $2 trillion mark in March 2022. The company has been performing above the $2 trillion mark to date.
The recent month-over-month trading volume dip is no different as reported by other platforms. The industry trend showed a similar decline in trading activities.
Despite the latest performance in Exness activities demand, October figures portrayed a more than 142 percent year-over-year strength.
The decrease in trading activities in Exness also conveyed the decrease in the number of active clients in the Month. There were 365,343 active members on the retail trading platform in October compared to 368,151 active clients witnessed in September.
Saxo, a Denmark-headquartered brokerage registered a 13 percent monthly decline in October trading activities.
The Rise Of Exness
Exness has been a strong brokerage in Europe. The Exchange has been working on its plans to extend its presence globally. The company has roots in Asian forex and CFDs trading markets and it is now focusing on setting its feet in Africa after obtaining two licenses, one in Kenya and another in South Africa.
In addition, the brokerage has been on the step of changing its administration. In two months, the broker has onboarded Mohammad Amer as the Regional Commercial Director for MENA, Corporate Services Director Daniel Gordon, Alfonso Cardalda as the Chief Marketing Officer, and Katina Messinis as the premier Account Management Head.
