Retail broker, Exness has defied the market trend to post an uptick in the monthly trading volume for December. According to the official numbers, the broker handled about $2.53 trillion in trading volume last month, which is an increase of 5.4 percent from the previous month.
Exness Reports Trading Volume Surge in December
Though it was a single-digit gain, the month-over-month came when other retail and institutional trading venues reported a decline in their December activities. Earlier, Finance Magnates reported that the trading volume on Saxo's platform came in at $415.7 billion last month, declining 9.3 percent, whereas Cboe FX and Deutsche Börse's 360T also witnessed a decline of 16 percent and 11 percent, respectively.
The drop in trading volume in December is also a trend across markets due to the holiday season. However, Exness turned a month-over-month uptick defying this trend. Also, it was the tenth consecutive month the broker reported a monthly volume of more than $2 trillion.
The volume surged last month after trading activities corrected for the prior three consecutive months since the figure hit a record in August, surpassing $2.81 trillion. December's figure remained among the best, only behind August, September, and October.
Year-over-year, the growth in trading activities on Exness is even higher as the latest volume almost doubled compared to $1.24 trillion in December 2021.
The massive global expansion drive of the broker supported the exponential growth behind Exness. It has established itself in the Asian forex and CFDs trading markets and is now eying Africa after obtaining two licenses, one in South Africa and another in Kenya. All these expansions happened as the broker already has a strong European presence.
Check out the latest FMLS session on "Advances in Trading Technology" in which the Chief Trading Officer at Exness, Damian Bunce, was a panelist.
Exness' Other Client Metrics
Despite the surge in overall volume, the number of active traders on Exness' platform went down by more than 2.3 percent last month. The month closed with 374,978 active clients who traded and conducted balanced operations. Again, it was the second-best month for the broker in terms of active clients.
Furthermore, the withdrawals from the brokerage platform peaked in the quarter between October and December. Exness customers took out $1.13 billion of their funds from their platform in the three-month period.
