$4.8 Trillion: Exness Sets Record with October Trading Volume

<p dir="ltr">Cyprus-headquartered Exness closed October with a monthly trading volume of more than $4.8 trillion, a record figure for the forex and contracts for differences (CFDs) broker. The latest number jumped 8.2 percent from the previous month.</p><p dir="ltr">Exness Approaching $5 Trillion Milestone</p><p dir="ltr">With the latest monthly trading volume, the broker is approaching the $5 trillion Milestone. The volume in October beat the previous record of $4.5 trillion in August. Although the demand slightly corrected in September, it rebounded aggressively last month. October also became the third consecutive month when Exness reported a trading volume of about $4 trillion.</p><p dir="ltr">Exness’ trading volume crossed the $1 trillion mark in October 2021, and over the span of two years, it almost elevated five times.</p><p dir="ltr">Year-over-year, the trading volume in October rocketed about 90 percent. In the <a href="https://www.financemagnates.com/forex/exness-holds-strong-in-september-second-best-month-despite-trading-volume-dip/">corresponding month</a> last year, the broker reported $2.5 trillion in trading volume.</p><p dir="ltr">Record Active Clients</p><p dir="ltr">Apart from the trading volume, the number of active clients also hit a record. According to the official figures, the number of active clients on the platform at the end of last month was 694,006. The figure surged 6.1 percent from the previous month’s 653,593.</p><p dir="ltr"><a href="https://www.financemagnates.com/tag/exness/">Exness </a>is an established broker in Europe. However, its extensive presence in emerging markets, including Asia, Africa, and Latin America, is likely to have contributed to the escalation in the trading volume. </p><p dir="ltr">The broker’s ambitions to expand its reach in Africa are clear with its licenses in <a href="https://www.financemagnates.com/forex/brokers/exclusive-exness-receives-fsca-license-to-operate-in-south-africa/">South Africa</a> and <a href="https://www.financemagnates.com/forex/brokers/exclusive-exness-expands-african-footprint-with-new-kenya-license/">Kenya</a>. In Latin America, it opened an <a href="https://www.financemagnates.com/forex/brokers/exness-eyes-latam-expansion-with-new-uruguay-office/">office in Uruguay</a> earlier this year. The broker also runs aggressive marketing campaigns in Asian markets and offers services in multiple South Asian languages, including Vietnamese, Bahasa, and Thai. However, the share of Exness’ trading volume from different markets is unknown.</p><p dir="ltr">Although Exness is hitting record after record with trading volumes, which are <a href="https://www.financemagnates.com/forex/forex-volumes-for-saxo-bank-highest-since-may-2023/">far higher than its competitors</a>, the company's financials remain unknown. </p>

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