EXNESS SETS ANOTHER RECORD, FEBRUARY TRADING VOLUME HITS $1.59T

abdelaziz Fathi

February saw several new records at Exness as total monthly volume more than doubled compared to last year.

exness

Exness has revealed it saw a record monthly turnover of $1.58 trillion in February 2022, with several new highs seen across its business metrics. The figure bested the previous all-time high set the previous month when it crossed the $1.5 trillion milestone for the first time in the group’s 13-year history.

Across a yearly interval, Exness’s volumes in February reflected an advance of 137 percent from $671 billion a year earlier.

The number of active clients has been also off the charts as the new year starts at a consistent, unprecedented strong pace. Exness group reported its active client base at 270,000, up 52 percent from 178,000 in the same month a year earlier. On a month-over-month basis, the number of active clients is also up 6 percent from 257,000 in January.

Volumes are way up

Exness got off to a strong start as the financial markets started off the new year in high gear, with a multitude of factors helping steer volumes across several venues. Much of this momentum is being driven by retail investors, who are continuing the high level of engagement that began two years ago. The increased volumes are pushing retail brokers like Exness to new highs, along with institutional platforms like FXSpotStream.

Exness acquired its regulated UK license, an IFPRU €730K firm, back in 2016 to operate a CFDs brokerage business. The broker launched a mainly retaill offering, which focussed 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.

At the time, Exness said that one of the reasons for the launch of its institutional business arm is the recent changes in the regulatory environment. Indeed, the retail FX market in Europe is becoming relatively challenging for many platforms, which is why many brokers are looking into new opportunities in the wholesale liquidity and clearing market.

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