Exness, a well-known foreign exchange and contracts for differences (CFD) brokerage brand, announced that the monthly trading volume for the month of March was $3.86 trillion, up from 3, $53 trillion from the previous month. This is a monthly increase of 9.3 percent.
Despite last month's recovery, volumes remained slightly below the $3.87 trillion the broker reported for January. Also year-on-year, monthly volumes remained almost stable, as they stood at $3.88 trillion in March 2023.
Exness operates globally and has aggressively expanded its services in emerging markets such as Asia, Africa and Latin America. The Cyprus-based brokerage has secured licenses in South Africa and Kenya while establishing its first presence in Latin America with an office in Uruguay.
Trading demand on the platform peaked last October at $4.8 trillion. The broker, however, could not maintain the astronomical demand, as it corrected over the next consecutive months to $3.94 trillion and $3.61 trillion, respectively.
The growth in trading volume on Exness has been exponential over the years. Demand fell after brokers followed the market and witnessed a sudden surge in March 2020 due to the impacts of the pandemic. But then, gradually, it began to accelerate, crossing the $1 trillion mark in October 2021, $2 trillion in March 2022, $3 trillion in February 2023, and then $4,000 billion dollars in August 2023.
A record number of active traders
Although the latest monthly volume remained below the peak, the number of active customers on the platform, at 836,873, reached a record. That figure jumped about 9.2 percent month-over-month. Interestingly, despite the ebb and flow of trading volume, the number of active customers on the platform has maintained an almost constant upward trend.
Meanwhile, two top Exness executives have left the company in recent months. Damian Bunce, who was the broker's chief customer officer, resigned in February and recently joined GTN as CEO of Middle East operations. Elena Krutova, former administrative director of Exness, also recently joined a pharmaceutical company.
Exness, a well-known foreign exchange and contracts for differences (CFD) brokerage brand, announced that the monthly trading volume for the month of March was $3.86 trillion, up from 3, $53 trillion from the previous month. This is a monthly increase of 9.3 percent.
Despite last month's recovery, volumes remained slightly below the $3.87 trillion the broker reported for January. Also year-on-year, monthly volumes remained almost stable, as they stood at $3.88 trillion in March 2023.
Exness operates globally and has aggressively expanded its services in emerging markets such as Asia, Africa and Latin America. The Cyprus-based brokerage has secured licenses in South Africa and Kenya while establishing its first presence in Latin America with an office in Uruguay.
Trading demand on the platform peaked last October at $4.8 trillion. The broker, however, could not maintain the astronomical demand as it corrected over the next consecutive months to $3.94 trillion and $3.61 trillion, respectively.
The growth in trading volume on Exness has been exponential over the years. Demand fell after brokers followed the market and witnessed a sudden surge in March 2020 due to the impacts of the pandemic. But then, gradually, it began to accelerate, crossing the milestone of $1 trillion in October 2021, $2 trillion in March 2022, $3 trillion in February 2023, then 4 trillion billion dollars in August 2023.
A record number of active traders
Although the latest monthly volume remained below the peak, the number of active customers on the platform, at 836,873, reached a record. That figure jumped about 9.2 percent month-over-month. Interestingly, despite the ebb and flow of trading volume, the number of active customers on the platform has maintained an almost constant upward trend.
Meanwhile, two top Exness executives have left the company in recent months. Damian Bunce, who was the broker's chief customer officer, resigned in February and recently joined GTN as CEO of Middle East operations. Elena Krutova, former administrative director of Exness, also recently joined a pharmaceutical company.