Exness Breaks Record with $975 Billion in July Trading Volume

Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term and CFDs broker, Exness has released the key trading metrics for July that turned out to be the best month in terms of trading activities on the platform since its inception.

According to the official figures, the total trading volume on the platform for the month came in at $974.5 billion, surpassing the previous peak it achieved last March. The latest figure shows that client activities on the platform have climbed by more than 13 percent from the previous month.

On a year-over-year basis, the trading volume showed an increase of 63.7 percent: the total trading volume was at $595.2 billion in July 2020.

Activities on Exness followed the industry trend to spike last year in March with the Covid-spurred Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term in the market. But, that spike was corrected in the following month only to kick start a healthy uptrend of trading activities on the brokerage platform.

The broker has been reporting positive growth in its trading volumes since May 2020. Though there were a few corrections last April and May, the trend is still going strong, showcasing the increasing demand in the retail trading markets.

A Record-Breaking Month

Additionally, the broker reported a record number of active clients last month. A total of 209,370 traders were active on the brokerage platform in July, jumping from the previous month’s figure of 204,925.

Established in 2008, Exness mostly operates in Europe with its Cyprus Investment Firm (CIF) license. Now, it is focusing on growing its business in several emerging markets, including Southeast Asia and Africa. Earlier this year, the broker received an operational license from the South African Financial Sector Conduct Authority (FSCA).

Moreover, the broker became a member of the Financial Commission recently, which will ensure fund protection of up to €20,000 for every client of the broker, along with several other benefits.