Trading volumes increase in spite of money market jitters

September 28, 2022 | 10:00
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As financial fragility is pushed by uncomfortably high expansion and national banks’ arrangements push investigators to pile back into the market, forex trading volumes are rising again.

Commercial brokerage Exness has reported its highest monthly earning figures to date, whereas the majority of its competitors saw a monthly fall in activity as a result of the summer break.

Trading volumes increase in spite of money market jitters
Trading volumes increase in spite of money market jitters

The Cyprus-based brokerage hit $2.81 trillion in trading volume in August, with retention rates on par with historical standards and the number of active clients at record highs compared to 2021 levels.

Nearly 360,000 active clients, up 61 per cent from 224,000 in the same month last year, were reported by the group, while the number of active clients has increased from 343,000 in July by 5 per cent on-month.

“This milestone not only shows the rise in retail trading demand but also Exness’ growing popularity in the market,” said Artem Seledtsov, chief business development officer at Exness.

The average trading volume in 2021 was $820 billion, and Exness originally outperformed the $1 trillion exchanging volume mark in October last year before reaching $2 trillion in March this year. The retail agent has been detailing more than $2 trillion of exchanging volume for six back-to-back months.

Trading volumes increase in spite of money market jitters

The bustling exchange comes as money markets have been shaken by a mixture of impacts this year going from the continuous conflict in Ukraine and energy deficiencies to central bank financing cost climbs and pandemic lockdowns in China. The USD flooded over that period as brokers climbed into the world’s hold cash. Meanwhile, the euro and the yen have tumbled against the dollar.

Exness is actively growing its market share in emerging economies. With two regulatory permits in the continent, one from the authority in South Africa and the most recent one from Kenya, it is targeting African traders in addition to Asian ones.

The group has said that one of the reasons for the launch of its institutional business arm is the recent changes in the regulatory environment. The forex market in Europe is becoming relatively challenging for many platforms, which is why many brokers are looking into new opportunities in the wholesale liquidity and clearing market.

The wider Exness Group is currently licensed in Cyprus, the United Kingdom, the Seychelles, the British Virgin Islands, and Curacao among others. Exness offers users the ability to trade on a wide range of asset classes covering forex and contract for differences on crypto, metals, energy, stocks, and indices across core trading accounts.

Clients of Exness can trade on the globally-recognised MetaTrader 4 and MetaTrader 5 trading platforms for Windows, Mac, Linux, Android and iOS systems, as well as the Exness Web Terminal. Users are also offered a variety of deposit and withdrawal methods including bank cards and e-wallets. The broker also offers a wide variety of educational materials via articles and videos, as well as live market analysis, an economic calendar, WebTV, and trading calculators.

Exness takes an active role in social life, as well as acting as a sponsorship partner with various organisations. Currently, Exness sponsors top Spanish football team Real Madrid.

By Nguyen Thu

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