Exness’ October Trading Volume Stays above $2T despite Monthly Dip

The trading volume came in at over $2.5 trillion.

The figure jumped by 142 percent year-over-year.

Exness reported its trading metrics for October with another month of decline in its trading activities. The trading volume for the month came in at more than $2.5 trillion, which is a month-over-month dip of 8 percent. It was the second consecutive month the broker reported a decline in trading demand.

However, September turned out to be the third-best month of the broker in its operational history. It was only behind the previous two months, August and September. The broker reported the highest monthly trading demand in August when the figure surpassed $2.8 trillion.

Similar to other trading platforms, activities at Exness spiked in March 2020 with the increased retail demand, but only to correct in the next month. However, that triggered a steady uptrend in trading activities.

Monthly trading volume at Exness crossed the $1 trillion mark in October 2021, only to cross $2 trillion next March. During that time, trading volume on the platform did not drop below $2 trillion, making October the eighth consecutive month.

The latest month-over-month trading volume dip on Exness was an industry-wide trend. Other retail trading platforms reported a similar monthly decline in activities.

Denmark-headquartered Saxo witnessed a 13 percent monthly decline in forex trading activities last month. Despite the latest monthly drop in demand, Exness’ number in October strengthened by more than 142 percent year-over-year.

The number of active clients on the trading platform also corrected marginally last month from the previous month’s peak. There were 365,343 active clients on the retail trading platform in October compared to the record 368,151 in September.

An Expanding Broker

Exness, initially known for its strong European presence, has expanded its services extensively in developing and emerging markets. It has established itself in the Asian forex and CFDs trading markets and is now eying Africa after obtaining two licenses, one in South Africa and another in Kenya.

Meanwhile, the broker is on a hiring spree for crucial roles. Over recent months, it has onboarded Mohammad Amer as Regional Commercial Director for MENA, Daniel Gordon as the Corporate Services Director, Katina Messinis as the Premier Account Management Head and Alfonso Cardalda as the Chief Marketing Officer.