Exness, the Forex and Contract for Difference broker, reported a 9% decline in client trading volumes for February, amounting to $3.534 trillion compared to January’s $3.868 trillion.
This decrease in trading activity comes despite a 6% rise in the number of active clients for the firm. In February, Exness boasted 766,534 active traders, up from 722,452 in January.
In a recent disclosure of its trading metrics for January, Exness revealed a substantial increase in trading volume and a record-breaking number of active clients. January’s trading volume showed a significant 7% rise from the previous month.
This surge in demand followed two months of slowdown, indicating a strong market response to Exness’ offerings. The latest trading volume figures also show a considerable year-over-year increase, with a 37% improvement compared to January last year.
Exness had previously set a record in October, with trading volumes surpassing $4.8 trillion, marking a 90% increase from the previous year. This exceeded the previous record of $4.5 trillion set in August, making October the third consecutive month of trading volumes around the $4 trillion mark.
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Headquartered in Cyprus, Exness has expanded its global presence, particularly in emerging markets across Asia, Africa, and Latin America. The company’s expansion strategy includes acquiring licenses in key markets such as South Africa and Kenya, as well as establishing physical offices in strategic locations like Uruguay.
Damian Bunce, Exness’ Chief Customer Officer, recently announced his departure from the company after nearly 3.5 years of service. His professional journey includes roles at Saxo Bank, Sberbank, Barclays, Goldman Sachs, and Barings.
Bunce’s resignation from Exness marks a significant moment for the company. Reflecting on his time at Goldman Sachs, Bunce acknowledged both the highs and lows, highlighting the exceptional growth trajectory experienced during his tenure.
