Exness, a leading broker in the foreign exchange (FX) and contracts for differences (CFDs) markets, has announced its June statistics, indicating a total of $3.32 trillion in trading activity. When compared to the total trade volume of the previous month, the number was essentially unchanged.
In February of 2018, Exness, headquartered in Cyprus, set a new benchmark when trade volume surpassed $3 trillion. A month later in March, trading volume reportedly reached a height of $3.88 trillion before turning, as reported by Finance Magnates. Despite the platform's monthly trade volume correcting from its high, it has not fallen below the $3 trillion threshold. A quick look:
Trading demand reached $3 trillion for the second consecutive month in May, with the total coming in at $3.35 trillion. The most recent month-to-month change was negligible, but the year-over-year increase from June 2022, when trading volume was $2.25 trillion, was approximately 48 percent.
After the retail trading industry was affected by the Covid-19 outbreak, demand for Exness' services skyrocketed. In October 2021, the platform's trading volume hit $1 trillion, and by March 2022, it had reached $2 trillion. Even after hitting crucial $1 trillion, $2 trillion, and $3 trillion milestones, trade volume on the platform never dropped below those levels.
The broker's growth into emerging areas outside of Europe, such as Asia and Africa, has allowed it to offer greater leverage, which has boosted trading volume. It now has licenses to operate in both South Africa and Kenya, two of Africa's regulatory hotspots. Also, earlier this year, it established a footprint in Latin America by opening an office in Uruguay.
Exness has announced a record number of active clients on its platform, in addition to a record trading volume. The broker claims that 531,511 customers traded successfully in June. This number is up by more than 3.1% from the previous month.
In addition, between April and June, the broker processed withdrawals totaling around $1.32 billion. The prior quarter's outflow of around $1.36 billion represented a decrease.
