Exness Posts Its Busiest Month In October As Trading Activity Hits $4.8 Trillion
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Exness, one of the leading brokerage platforms in the FX industry, posted its busiest month in October. The brokerage platform with multiple licenses globally created a new record with $4.8 trillion worth of trading activity.
The trading volumes reported by Exness in October were an 8% increase compared to the over $4.4 trillion posted in September.
Exness Trading Volumes for November Hit $4.8 Trillion
The October monthly turnover also significantly increased from the $2.5 trillion reported in October 2022. This figure indicates a 92% year-over-year increase.
The increase in trading volumes aligns with a bull run witnessed during the third quarter. The offering has also presented more profitable opportunities for leading retail-focused FX brokerage platforms.
Exness has also triggered significant growth over the years. The platform has seen an increase in the active client base, with the numbers rising past the 2022 levels. The client retention levels at Exness have also increased to historical highs.
In October, the number of active clients posted a 90% year-over-year increase to 694,006 from the 365,343 seen during the previous year. The active clients also increased by 6% in October compared to September.
Over the past three months, the FX broker has posted a consistent increase in the average trading volumes, which have now gone past the $4 trillion mark.
Exness Pursues Growth
Exness has posted significant overall growth this year. In September, the brokerage division of Exness received an award for the Best Global Multi-Asset Broker of 2023 during the Forex Expo Dubai. The award highlighted the role played by Exness as a leader in the global financial industry.
Exness was also a Titanium Sponsor for the Forex Expo Dubai event for 2023. The company held two exclusive sessions, giving attendees more understanding of the trends in the financial markets
While speaking during the event, the Chief Customer Officer at Exness, Damian Bunce, gave a talk on “Liquidity Fragmentation and the Impact of Transparency.” On the other hand, the Financial Markets Strategist Lead at the company, Wael Makarem, discussed how traders can use automated systems to trade.
Exness secured a UK license in 2016. This license allowed the brokerage platform to trade contracts for differences (CFDs). In 2019, the company ventured away from retail operations within the EU/EEA region, such as the UK. Instead, it reshuffled its business to focus more on other markets.
