Exness, a retail brokerage firm, has published its numbers for April 2023, revealing that it was able to sustain the mark of $3 trillion in terms of trading volume. It is significant that the brokerage firm was able to sustain the milestone mainly because it registered a fall in the trading volume in comparison to March 2023.
Per the report published by Exness, the trading volume in April fell down by 22.6% to stop the figure at the milestone. The same number for March was $3.88 trillion. The year-on-year comparison rather narrates a better story, with the firm climbing up from $2.1 trillion over April 2022.
March 2023 was the time when the trading volume peaked for Exness. Hence, the drop is now being showcased as a cyclical correction. Justified, for the milestone is still maintained.
Activities started gaining traction during the Covid-19 pandemic, the time when others struggled to get new users on the platform. It has, since then, only registered a sustainable performance until April 2023. What happens in May 2023 will be published next month.
Notably, Exness has seen a streak of surpassing the milestone of $3 trillion in trading volume. April 2023 becomes the third month in the current year to see the number. The streak originally started in February 2023, when the figure was dancing around $3.05 trillion.
Jump, nonetheless, has come in handy for Exness at a time when the entire market is seen following a similar trend. The number of active traders for April 2023 on Exness was 476,172. These are the users who regularly trade and conduct balanced operations at one of the South African forex brokers. A dip again for the sector shows a performance of 491,064 active users in the previous month.
Things have been going well for the retail trading brokerage platform. It opened an office in Uruguay in the earlier days of 2023. Exness is now looking to expand its operations in the African market. The platform has already obtained the necessary licenses in Kenya and South Africa.
Founded in 2008, Exness offers a wide range of products, including, but not necessarily limited to, cryptocurrencies, indices, and stocks. It is headquartered in Cyprus, supporting dynamic trading fees based on the geographical presence of the user. More such information can be found in our full review of Exness.
The speculation about the cyclical correction for May 2023 is currently unknown. Exness could again witness a rise in trading volume. If the March performance of Exness is anything to go by, then it is right to assume that the platform can once again peak in terms of trading volume and number of active trades.
Exness has been able to maintain the streak of $3 trillion in trading volume despite a fall of 22.6%. It is only likely that it will recover from the corrective fall in the following month.
Source: https://www.cryptonewsz.com/exness-sees-a-cyclical-downfall-in-april-sustains-the-3t-usd-mark-in-trading-volume/