Exness Follows Industry to Post Slow Down in May's Trading Demand

Exness published the trading volume statistics with 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 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 Institutional Trading Institutional trading can be characterized as individuals or entities with the ability to invest in securities that are not available to retail traders directly.This includes specific investments such as FX forwards or swaps, among others.There are many types of players in the institutional trading space. These include central banks, retail and commercial banks, internet banks, credit unions, savings, and loan associations, investment banks, investment companies, brokerage firms, insurance compa Institutional trading can be characterized as individuals or entities with the ability to invest in securities that are not available to retail traders directly.This includes specific investments such as FX forwards or swaps, among others.There are many types of players in the institutional trading space. These include central banks, retail and commercial banks, internet banks, credit unions, savings, and loan associations, investment banks, investment companies, brokerage firms, insurance compa Read this Term 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.