Exness, the Cyprus-headquartered retail brokerage, broke an industry-wide trend in August to handle $2.81 trillion in trading volume. When most of its competitors reported a monthly slump in activities due to the effects of the summer holidays, Exness posted its record monthly volumes to date.
The reported trading volume for August was a jump of 23.5 percent on a month-on-month basis. The figure increased by 219.6 percent year-over-year as Exness only handled $879.4 billion in trading volumes in August 2021.
Exness first surpassed the $1 trillion trading volume mark in October last year only to surpass $2 trillion in March 2022, which was also the previous record month for the broker with $2.48 trillion in trading volume. Now, the retail broker has been reporting over $2 trillion of trading volume for six consecutive months.
With the record trading volume, the number of active clients on the trading platform peaked last month. The total number of clients trading and conducting balance operations on Exness in August came in at 360,785, which is an increase of 5 percent and 60 percent monthly and yearly, respectively.
A Broker Breaking the Industry Trends
Exness is aggressively expanding its business in emerging markets. It has focused on Asia for a while now and is targeting African traders as well, holding two regulatory approvals in the continent: one from the regulator in South Africa and the latest from Kenya.
Additionally, the wider Exness Group is licensed in Cyprus, the United Kingdom, Seychelles, BVI and Curacao among others.
Meanwhile, the broker has onboarded a few experts in recent months to support its growth. Earlier, Daniel Gordon joined the company as Corporate Services Director, Katina Messinis as Premier Account Management Head and Alfonso Cardalda as Chief Marketing Officer.
