It was another record month after the previous record month, and each one seemed to get bigger than the last. FX broker Exness revealed another unprecedented monthly volume record last month, besting the previous record set back in November. It was also the first time to cross the $1.5 trillion milestone in the group’s 13-year history.
The busiest January on global markets in many years is raising hopes among brokers and market venues that 2022 will spark yet another rebound in trading metrics.
During the month of January 2022, Exness reported a total trading volume of $1.51 trillion, which represented a jump of 22 percent month-on-month from $1.24 trillion in December 2021. Across a yearly interval, the metric in January reflected an advance of 140 percent from $626 billion a year earlier.
The number of active clients has been also off the charts this year as a record number of first-time investors joined its platform during the Covid-19 chaos. Exness reported its active client base at 257,000, up 56 percent from 164,800 in the same month a year earlier. On a month-over-month basis, the number of active clients is also up 8 percent from 257,700 in September.
Exness got off to a strong start as the financial markets started off the new year in high gear, with a multitude of factors helping steer volumes across several venues.
The uptick in volumes also comes as Exness, which is authorised by the FCA as an IFPRU €730K firm, continues to restructure its business.
Exness acquired its FCA license in the UK back in 2016 to operate a foreign exchange and CFDs brokerage business. After one year, the broker launched an institutional offering, which is focused on providing liquidity for FX, CFDs, metals, and commodities. In light of an internal business decision to focus on other markets and grow their B2B operations, Exness decided in 2019 to close the retail business in the EU/EEA region, including in the UK.
At the time, Exness said that one of the reasons for the launch of its institutional business arm is the recent changes in the regulatory environment. Indeed, the retail FX market in Europe is becoming relatively challenging for many platforms, which is why many brokers are looking into new opportunities in the wholesale liquidity and clearing market.