Trading volume still remains double compared year-over-year.
Exness published the trading volume statistics with forex and contracts for differences (CFDs) instruments on its platform for the month of May, showing some correction in demand, but it was still higher than most of the months.
Per the official numbers, the broker recorded a total monthly volume of $778.3 billion for last month, which is down from $841 billion. That was a month-over-month decline of almost 7.5 percent.
Still Good Numbers
But, on the positive side, the volumes still remain more than double the $387.1 billion in monthly volumes reported in May last year. In fact, the broker recorded its fourth-best month in its operational history with last month’s trading volumes.
After the windfall gain in the activities in March 2020 and following sharp correction over two consecutive months, trading on Exness gained a solid upward momentum and continued to climb until last March when it posted the best monthly trading statistics.
However, the correction from the peak is in line with the trading activities of the entire industry. Finance Magnates earlier reported on the volumes of other brokerages like Saxo Markets and several institutional trading venues, all showing a sharp correction.
Meanwhile, the numbers of new trading accounts opened by the brokerage platform remain solid. It added 12,081 new traders last month, taking the total number of its clients to 207,150 at the end of last month.
Exness is heavily focusing on the emerging markets of Southeast Asia, apart from its usual European base. In addition, it secured an operational license from the South African regulator earlier this year.
In a recent interview with Finance Magnates, Exness Regional Director for MENA, Mohamad Ibrahim, revealed that the broker brand has plans to expand its presence in the Middle East, both virtually and physically.
“As part of this expansion strategy, we are also significantly growing our Arabic-speaking support and marketing teams,” he said.