Exness Reports 11% MoM Gain in June Trading Volume
- The total trading volume for the month came in at $861.7 billion.
Exness, a major Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage platform, has published its trading statistics for the month of June, showing recovery in demand after a couple of months of correction from the peak.
The platform reported a total trading volume of $861.7 billion for the month, which is almost 11 percent higher than the previous month’s $778.3 billion. Additionally, it is the second-highest monthly volume reported by the broker and is only slightly behind the peak it achieved in March this year with $930.6 billion.
Exness was established in 2008 and expanded its business in Europe before entering other regions. The broker is now heavily focused on emerging markets of Asia and Africa. The company even secured a South African regulatory license for brokerage operations, Finance Magnates reported earlier this year.
Similar to any other broker, Exness’ volumes zoomed in March 2020 with the pandemic induced market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, but only to correct sharply in the next couple of months. However, a steady uptrend has been seen in trading activities since May last year.
Active Traders Decreased
Despite the gain in trading volumes in June, the number of active traders on the brokerage platform fell in absolute numbers. According to the broker, only 204,925 clients were active last month, compared to 207,150 in May. Further, this indicated that the monthly average trading volume per trader increased significantly.
However, the multi-regulated broker is witnessing rising withdrawals on its platforms. In the second quarter of 2021, between April and June, $430.4 million were withdrawn from the Exness platform, while this number was at $404.7 million in the previous quarter and $178.6 million in Q2 of 2020.
Meanwhile, Exness joined the self-regulatory organization Financial Commission as a member that will ensure fund protection of up to €20,000 per client of the broker.
Exness, a major Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs brokerage platform, has published its trading statistics for the month of June, showing recovery in demand after a couple of months of correction from the peak.
The platform reported a total trading volume of $861.7 billion for the month, which is almost 11 percent higher than the previous month’s $778.3 billion. Additionally, it is the second-highest monthly volume reported by the broker and is only slightly behind the peak it achieved in March this year with $930.6 billion.
Exness was established in 2008 and expanded its business in Europe before entering other regions. The broker is now heavily focused on emerging markets of Asia and Africa. The company even secured a South African regulatory license for brokerage operations, Finance Magnates reported earlier this year.
Similar to any other broker, Exness’ volumes zoomed in March 2020 with the pandemic induced market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, but only to correct sharply in the next couple of months. However, a steady uptrend has been seen in trading activities since May last year.
Active Traders Decreased
Despite the gain in trading volumes in June, the number of active traders on the brokerage platform fell in absolute numbers. According to the broker, only 204,925 clients were active last month, compared to 207,150 in May. Further, this indicated that the monthly average trading volume per trader increased significantly.
However, the multi-regulated broker is witnessing rising withdrawals on its platforms. In the second quarter of 2021, between April and June, $430.4 million were withdrawn from the Exness platform, while this number was at $404.7 million in the previous quarter and $178.6 million in Q2 of 2020.
Meanwhile, Exness joined the self-regulatory organization Financial Commission as a member that will ensure fund protection of up to €20,000 per client of the broker.