Exness client base tops 766K despite lower trading volumes

FX brokerage powerhouse Exness reported a decrease in its trading volumes for February as the new year got off to a calm start while no events were able to whip up a market frenzy.

Exness had its busiest ever in October when the multi-regulated platform set a new record with a whopping $4.8 trillion in trading activity.

In February, the multi-regulated platform handled $3.53 trillion in trading activity, which was 8.5 percent lower than the $3.86 trillion they had in January 2024. However, the monthly turnover represents a strong leap over last year’s $3.05 trillion for the same month, marking a 15 percent increase year-over-year.

The consolidation of trading volumes is rather usual given a downtick in volatility and market drivers. By comparison, the last quarter featured more activity, as investors traded frantically in response to the conflict between Israel and Hamas-led Palestinian militant groups, central banks’ policy and subsiding inflation, among other headlines.

Overall, both retail and institutional venues all reported lackluster metrics for the month, which makes Exness’ weaker turnover hardly surprising.

Despite weaker volumes, Exness is riding high on a surge in its active client base, now hitting unprecedented numbers that are much higher than 2023’s stats, with client retention on par with historical averages. A whopping 74% year-over-year increase brought the count of active clients to 766,534 in February 2024, up from 440,151 the previous year. Even on a monthly scale, from January to February, the broker experienced a 6% bump in active clients.

Earlier in September, Exness was named the Best Global Multi-asset Broker of 2023 at the Forex Expo Dubai. This award highlights Exness’s position as a leading player in the global financial landscape.

Stepping up as the Titanium Sponsor for this year’s event, Exness orchestrated two exclusive sessions to offer attendees a profound understanding of the prevailing financial market trends. Damian Bunce, Exness Chief Customer Officer, spearheaded a session, stating, “Liquidity Fragmentation and the Impact of Transparency,” while Wael Makarem, Exness Financial Markets Strategists Lead, helmed the “Level Up Your Trading with Automated Systems” seminar.

Originally acquiring its UK-regulated license in 2016 to run a CFDs brokerage, Exness introduced a retail-centric offering, focusing on Forex and commodities CFDs. However, in 2019, the company pivoted away from the retail business in the EU/EEA region, including the UK, to reorient its business strategy towards other markets and expand its B2B operations.