Exness trading volume in November slips by 19% compared to a $4.8 trillion October peak

A major brokerage service, Exness, recently reported its trading volume for November 2023, showing that it slipped by 19% compared to the previous month. While in October, the broker managed to reach a trading volume of $4.8 trillion, it appears that it failed to keep it.

Trading volume drops 19% month-over-month

The November figure shows a significant 19% correction, leaving it with $3.93 trillion, according to the official numbers. Meanwhile, the October peak of $4.8 trillion represents a record monthly trading volume. The drop would likely not be considered as dire if the November volume managed to stay above the $4 trillion mark.

But, despite the significant decline, the latest figure is only behind the three previous consecutive months. As such, it can be said that November has still been a fairly successful month for the company.

Furthermore, despite the month-over-month decline in volume, the November volume is still 62.5% higher compared to the figures recorded during the same time last year, in 2022. In other words, Exness’ growth trajectory has seen a rather considerable boost following the end of the pandemic and its impact on the markets.

The platform first managed to cross the $1 trillion threshold in October 2021. Within six months, it managed to double that figure and then hit $3 trillion for the first time in February 2023.

Exness sees a drop in the number of active users

Apart from the trading volume, the company has also seen a marginal decline in the number of active clients between October and November of this year. The platform revealed that it had 694,006 active users in October when it reached its milestone of $4.8 trillion in trading volume. However, that figure dropped to 688,245 one month later.

However, even with the number of active users down by nearly 6,000 users who “traded and conducted balance operations,” November still represents the second-best month when it comes to the number of active customers.

Exness is a brokerage service that is headquartered in Cyprus. However, the firm operates globally, serving customers in many other countries. It has an established base in the European Union, but apart from that, the broker has also been pursuing aggressive expansion over the years.

It now services some of the most profitable emerging markets in Africa, Asia, and Latin America. In Africa, it has already obtained licenses to operate legally in Kenya and South Africa. Meanwhile, its office in Uruguay represents its first form of presence in Latin America.