FX brokerage powerhouse Exness reported a decrease in its trading volumes for the second consecutive month as the previous year got off to a calm end while no events were able to whip up a market frenzy. In fact, by some metrics, December 2023 was one of the calmest months in years.
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 December, Exness’ traders transacted a total of $3.6 trillion, which is lower by 8.3 percent on a monthly basis from $3.93 trillion the month prior. The figure was however higher by 43 percent from year-ago levels when weighed against $2.5 trillion in December 2022.
The consolidation of trading volumes is rather usual given a downtick in volatility and market drivers. By comparison, October and November 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.
The number of active clients took a slight step back, coming in at 685,374 as of December 2023. This was down from 688,245 the month earlier. On a year-over-year basis, the number of active clients showed a remarkable 83 percent increase compared to December 2022’s 374,978 active clients.
Earlier in 2023, the Cyprus-based brokerage arm of Exness has been 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.