After what can only be called a challenging year for the entire world, a look closer at some of the biggest brands in the foreign exchange industry has revealed how some rose to the occasion, translating obstacles into opportunities and turning unprecedented situations on their heads.
|Broker bucks global trends with strong corporate response to COVID-19 woes |
Global multi-asset broker Exness, for one, is finishing the year on a high. Despite 2020 being a year of uncertainty all around, the company has seen growth and record numbers. The broker was able to capitalise on the volatile market situation and saw its highest-ever trading volumes, of $6.11 trillion for the year (January to November), with a $785 billion new monthly record in March.
The number of active clients from more than 150 countries, meanwhile, was up almost 100 per cent on-year to over 143,500. The figure was just over 72,700 last year.
Increased trading volume for Exness translated to 315.58 million orders closed this year, with client and partner withdrawals of $593 million and $100 million, respectively. According to Exness management, this is largely owed to the fact that all its teams joined forces and went above and beyond to create the most stable and competitive trading conditions among the market chaos which the pandemic brought.
Maintaining a competitive product offering despite the many other challenges that demanded time and attention, Exness also added more instruments to its trading platform, including some of the hottest stocks and energies of the year such as Tesla, Amazon, Apple, and Netflix, to name a few. Exness also responded to the global crises the pandemic created outside the bubble of the financial markets. With medical facilities and communities around the world suffering, Exness took an active role in setting an example for the private sector and helping wherever they could, donating almost $1.5 million to charities worldwide.
Some of the beneficiaries included the Hospital for Tropical Diseases in Vietnam, the Alkhidmat Foundation in Pakistan, Give India, Gift of the Givers in South Africa, Suandok Hospital Foundation in Thailand, and the United Nations’ Share the Meal Program.
In Cyprus, where the broker is headquartered, Exness pledged €1 million ($1.2 million) to the fight against COVID-19, which has gone towards key diagnostic equipment, N95 masks, and hazmat suits for frontliners; ventilators to equip the country’s most important intensive care units; and other critical medical equipment.
Exness also responded to the pandemic for its employees by finding the right solutions to create a work from home model that would support staff and guarantee uninterrupted performance during the crisis. Exness reports closing the year with a total of 730 employees, nearly 200 of those hired remotely during the pandemic.