Exness trading volumes skyrocket to $4.8 trillion in October
FX brokerage firm Exness had its busiest October ever. The multi-regulated platform set a new record with a whopping $4.8 trillion in trading activity, which was 8 percent more than the $4.4 trillion they had in September.
The monthly turnover also represents a hefty leap over last year’s $2.5 trillion for the same month, marking a 92 percent increase year-over-year.
The spike in trading activity on the Exness platform aligns with a lucrative third-quarter bull run, presenting profitable opportunities not just for heavyweight venues but for a slew of retail-focused FX brokerages as well.
Exness is riding high on a surge in its active client base, now hitting unprecedented numbers that are much higher than 2022’s stats, with client retention on par with historical averages. A whopping 90% year-over-year increase brought the count of active clients to 694,006 in October, up from 365,343 the previous year. Even on a monthly scale, from September to October, the broker experienced a 6% bump in active clients.
Throughout the last three months, Exness has consistently seen average trading volumes above the $4 trillion threshold.
Earlier in September, the Cyprus-based brokerage arm of Exness has been named the Best Global Multi-asset Broker of 2023 at the Forex Expo Dubai. This award highlights Exness’s position as a leading player in the global financial landscape.
Stepping up as the Titanium Sponsor for this year’s event, Exness orchestrated two exclusive sessions to offer attendees a profound understanding of the prevailing financial market trends. Damian Bunce, Exness Chief Customer Officer, spearheaded a session, stating, “Liquidity Fragmentation and the Impact of Transparency,” while Wael Makarem, Exness Financial Markets Strategists Lead, helmed the “Level Up Your Trading with Automated Systems” seminar.
Originally acquiring its UK regulated license in 2016 to run a CFDs brokerage, Exness introduced a retail-centric offering, focusing on Forex and commodities CFDs. However, in 2019, the company pivoted away from the retail business in the EU/EEA region, including the UK, to reorient its business strategy towards other markets and expand its B2B operations.