Exness Reports a Surge in Client Number, But Trading Volume in June Stays Flat
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
One of the leading Forex and CFD brokers, Exness, recently released its metrics for last month. The company reported a surge in the number of daily active users, but its trading volume remained flat. The volume still sits above $3 trillion, but it has not moved much since February of this year.
In its report, Exness revealed that its trading volume for June managed to stay above $3 trillion. The exact figure that the company reported is $3.32 trillion for the previous month. While impressive, the figure came in almost flat compared to the firm’s performance in the past several months.
Exness volume never dropped under $3 trillion between February and June
Exness is a Cyprus-based firm that hit a milestone in February when its trading volume breached $3 trillion for the first time. Over the course of March, the trading volume impressed once again, peaking at $3.88 trillion. However, since then, the company failed to reach new milestones.
The monthly trading volume has never dropped below $3 trillion since February, but it never climbed to the March high again, nor did it reach a new record.
The company once again reached $3 trillion in April, and the demand surpassed the figure in May, climbing to a total of $3.35 trillion. After May’s $3.35 trillion, the volume in June came in almost flat at $3.32 trillion, actually coming in slightly lower. However, it still represents a 48% jump compared to June 2022, when it came in at $2.25 trillion.
The company has seen strong growth in demand for its services following the Covid-19 pandemic. The pandemic’s impact on retail traders first became apparent in October 2021, when Exness reached the $1 trillion mark for the first time. It took five months for it to climb to $2 trillion, which happened in March 2022. Then, it took the firm nearly a year to reach $3 trillion in February 2023.
After achieving each respective level, the trading volume never went below the key milestones, including $1 trillion, $2 trillion, or $3 trillion.
Exness records an increase in active users in June
The broker’s headquarters is in Europe, but it has expanded to include users from other corners of the world. It specifically sought out customers in emerging markets like Africa and Asia. The expansion allowed it to offer high leverage, which was a big contribution to its trading volume.
Exness obtained two licenses in Africa, one in Kenya and another in South Africa. Then, earlier in 2023, it also opened an office in Uruguay, officially expanding to South America. The expansion allowed the firm to reach a new personal record in the number of active users, which now sits at 531,511 for June. The figure increased by 3.1% compared to May.
It is also worth noting that Exness handled approximately $1.32 billion in withdrawals between April and June. The figure is slightly lower compared to Q1 2023 when it was at $1.36 billion.
