Monday, June 17, 2024
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HomeRetail FXAround 10K traders left Exness in December, volumes up MoM
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Around 10K traders left Exness in December, volumes up MoM

Exness’ trading activity slumped over the last four months as traders fled from low volatility. However, the consolidation of trading volumes is rather usual given a downtick in market drivers. The broker’s turnover has since pared some of the gains, but is still up more than 90% from the year earlier and many were betting it will resume its rally.

In particular, Exness’ monthly volume gained 5 percent in December, coming in at $2.5 trillion, up from $2. 4 trillion in November. The figure also doubled from year-ago levels when weighed against $1.24 trillion in 2021.

The number of active clients took a step back last month at 374,978, down 2.3 percent after having crossed the 383,000 mark for the first time in the group’s 14-year history. On a year-over-year basis, the number of active clients was up 55 percent from 237,325 in December 2021.

Exness acquired its regulated UK license, an IFPRU €730K firm, back in 2016 to operate a CFDs brokerage business. The broker launched a mainly retail offering, which focused on CFDs in Forex and commodities. In light of an internal business decision to restructure its business and focus on other markets to grow their B2B operations, Exness decided in 2019 to close the retail business in the EU/EEA region, including in the UK.

Earlier in November, Exness appointed also Greta Killytė, who has a colorful career across the gaming industry, as its newest head of regional marketing. Greta lands at the FCA-regulated firm coming from PokerStars, an online poker cardroom that was a part of The Stars Group until it was sold to Flutter Entertainment two years ago. There she worked for nearly three years as a senior casino acquisition manager.

Greta Killytė is the second exec from the igaming industry that Exness onboarded over the last few months. Her co-worker at PokerStars Casino, Alfonso Cardalda joined the firm as a chief marketing officer back in April. He spent 12 years there and was instrumental in leading the igaming entity’s operations until he left.


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