Exclusive: Exness Sets Record in February as Trading Volume Hits $3 Trillion

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Exclusive: Exness Sets Record in February as Trading Volume Hits $3 Trillion

<p>Exness closed February with a record monthly trading volume of more than $3 trillion, the retail multi-asset broker informed Finance Magnates. The number of active customers on the trading platform also peaked, surpassing half a million.
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Exness Surpasses $3 Trillion in Monthly Trading Volume
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The latest monthly figure revealed by the broker had surpassed its previous <a href="https://www.financemagnates.com/forex/brokers/exness-sets-record-again-with-282t-january-trading-volume/" target="_blank" rel="follow">trading volume record of $2.82 trillion </a>set in January. Year-over-year, the trading volume of the broker doubled, as the figure was at $1.5 trillion for February 2022.
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The monthly trading volume on Exness crossed the $1 trillion mark in October 2021, only to move past the $2 trillion mark in the following March. Since then, the broker has maintained its trading volume above $2 trillion despite much volatility in demand. It is the only non-Japanese retail broker to achieve those numbers.
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"Our volumes reflect the healthy growth we see across all our internal management metrics, including high-value clients and partners; we also see good growth in a few of our new markets," said Exness' Chief Customer Officer, Damian Bunce, <a href="https://www.financemagnates.com/executives/moves/exclusive-exness-changes-damian-bunces-role-to-chief-customer-officer/" target="_blank" rel="follow">whose role was recently changed</a> from Chief Trading Officer.
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"In February, crypto volumes were pretty consistent with yearly averages, energy volumes were down compared to 2022 levels, but given the macroeconomic environment, we saw substantial demand from our clients to trade FX Majors and Commodities."
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Exness' Expansion Drive Continues
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Exness' expansion drive globally, especially in emerging markets, fueled the growth in the trading demand. Apart from its European base, the broker established itself in emerging markets, especially in Asia. In addition, it obtained two regulatory licenses in Africa, one in <a href="https://www.financemagnates.com/forex/brokers/exclusive-exness-receives-fsca-license-to-operate-in-south-africa/" target="_blank" rel="follow">South Africa</a> and the other in <a href="https://www.financemagnates.com/forex/brokers/exclusive-exness-expands-african-footprint-with-new-kenya-license/" target="_blank" rel="follow">Kenya</a>, to fuel its growth in the continent. On top of that, it recently <a href="https://www.financemagnates.com/forex/brokers/exness-eyes-latam-expansion-with-new-uruguay-office/" target="_blank" rel="follow">opened an office in Uruguay</a>, marking its presence in Latin America.
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The broker offers trading services with margin forex and contracts of differences (CFDs) instruments of metals, cryptocurrencies, energies, stocks, and indices. However, the asset class and the number of instruments listed in different markets may vary.
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While demand on Exness peaked in February, other trading platforms reported lower trading volume as the month was shorter. Saxo, another major broker, <a href="https://www.financemagnates.com/forex/brokers/saxo-banks-february-fx-volume-sinks-despite-a-stroger-adv/" target="_blank" rel="follow">reported $359.8 billion in total trading volume</a> last month, which is a month-over-month decline of 4.2 percent. However, the average daily volume strengthened to $18 billion from the previous month's $17.1 billion.</p>

This article was written by Arnab Shome at www.financemagnates.com.

Source: Exclusive: Exness Sets Record in February as Trading Volume Hits $3 Trillion