Exness has disclosed its trading volume data for the month of October 2022. With a trading volume of more than $2.5 trillion, October marked the eighth consecutive month in which Exness reported a trading volume of more than $2 trillion.
The figure represents a 142% year-over-year increase and an 8% month-over-month decline. In August, when the company’s revenue surpassed $2.8 trillion, Exness achieved its finest month. Exness reached a monthly trading volume of $1 trillion in October 2021. Since March, when it reached $2 trillion, there has been no reversal in the amount.
Despite the fact that the present 8% decline is somewhat alarming, it is a frequent occurrence across the entire industry. Similar declines in trading volume have been recorded by other retail trading platforms.
The trading platform’s active clients also dropped last month from the prior month’s peak. According to reports, the retail trading platform had 365,343 active clients in October, down from 368,151 in September. Some of the best forex brokers in South Africa have echoed a similar trend.
In March 2020, consumer demand was at an all-time high, leading to promising business results. The next month, Exness had a correction in this area as well. The platform benefitted from the triggered uptrend that continued to rise.
Since then, the monthly trading volume has not fallen below $2 trillion. It is anticipated that November will be the ninth consecutive month to extend the record.
Headquartered in Cyprus, Exness ensures that its operations are well-regulated by the authorities. Products offered by Exness include stocks, indices, metals, forex, and cryptocurrencies, to name a few. The international online forex brokerage firm was established by Petr Valov and Igor Lychagov.
Exness offers compatibility with MetaTrader 4 and MetaTrader 5. Exness is an ideal platform for new and experienced traders as it offers a vast training center with different trading resources. Traders can explore a variety of techniques that can be deployed throughout their careers. Find more details here in addition to how relevant data can be procured through a request.
It takes only a few moments to create an Exness account. A minimum age of 18 years is required for basic eligibility. They should not be a citizen of the United States, and they should not be bankrupt. Exness requires users to complete KYC as part of the verification process.
The verification process requires individuals to authenticate their identity and address, after which an Exness account is created.
The monthly trade volume may have decreased compared to the previous month, but there is great potential for growth in the future, especially when considering the year-over-year increase.
Source: https://www.cryptonewsz.com/trading-volume-stays-above-2t-usd-for-exness/