Trading volumes at Exness hit record levels in March with a whopping 170 percent growth, beating the last peak of activity, as investors traded frantically in response to a tumult of factors.
It had been a volatile month for the financial markets as traders respond to news about the Russia-Ukraine war, central banks’ policy and soaring inflation, among other headlines.
Exness has revealed it saw a record monthly turnover of $2.48 trillion in March 2022, with several new highs seen across its business metrics. The figure bested the previous all-time high set the previous month when it crossed the $1.58 trillion milestone.
Across a yearly interval, Exness’s volumes in March reflected an advance of 167 percent from $930 billion a year earlier.
The number of active clients has been also off the charts, having crossed the 300,000 mark for the first time in the group’s 13-year history. Exness group reported its active client base at 301,575, up 61 percent from 187,000 in the same month a year earlier. On a month-over-month basis, the number of active clients is also up 12 percent from 269,000 in February.
Volumes are way up
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. Much of this momentum is being driven by retail investors, who are continuing the high level of engagement that began two years ago. The increased volumes are pushing retail brokers like Exness to new highs, along with institutional platforms like FXSpotStream.
Exness acquired its regulated UK license, an IFPRU €730K firm, back in 2016 to operate a CFDs brokerage business. The broker launched a mainly retaill offering, which focussed on CFDs in Forex and commodities. In light of an internal business decision to restructure its business and focus on other markets to 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.