Exness has reported its trading metrics for May, ending another month with a total trading volume of more than $2 trillion. However, there was a decline of 4.7 percent from the figure of the previous month.
The multi-asset broker reported record numbers last March when its monthly volume touched $2.48 trillion. In addition, it was a record within the retail brokerage industry. Despite the decline from the peak, it has witnessed a trading volume above the $2 trillion mark for three months in a row.
However, the number of active traders on the trading platform touched a record level last month. The broker ended May with 304,482 active traders. The figure was marginally higher than March, but it jumped by 8.2 percent from April.
The upward rally in demand for the trading services provided by Exness started with the initiation of the pandemic-induced market volatility . On a year-over-year basis, the monthly trading volume on the brokerage platform jumped by almost 158 percent.
Aggressive Expansion
Headquartered in Cyprus, Exness has expanded its global footprint aggressively over the recent years. The broker is primarily targeting emerging markets, which include the ones in Asia and Africa.
Additionally, the broker obtained a license from the regulator in Kenya that will help it further to expand into the lucrative retail trading markets in the continent. Moreover, it is regulated in South Africa, the United Kingdom, Cyprus and Seychelles.
Apart from the expansion, the broker is strengthening its leadership positions. Finance Magnates recently reported on the appointment of Daniel Gordon as the broker’s Corporate Services Director. Furthermore, it has hired Katina Messinis as Premier Account Management Head, Chris Trikomitis as Established Markets Director, Alfonso Cardalda as the Chief Marketing Officer, and Peter Plester as the Lead of B2B Sales Efforts only over the past few months.
