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EXNESS VOLUME CONTINUES DOWNWARD TRAJECTORY FOR FOURTH MONTH IN A ROW
Source:https://financefeeds.com/exness-volume-continues-downward-trajectory-for-fourth-month-in-a-row/ | Author:finance-102 | Date2022-12-19 | 120 Views | Share:
Exness, a multi-regulated foreign exchange and CFD platform, has released its monthly trading statistics for November 2022, which saw its turnover moving lower for a fourth consecutive month.

Exness, a multi-regulated foreign exchange and CFD platform, has released its monthly trading statistics for November 2022, which saw its turnover moving lower for a fourth consecutive month.


Activity on Exness’ platforms dropped last month to $2. 4 trillion, which is lower on a monthly basis by -5 percent from $2.5 trillion in October 2022. The figure was however higher by 90 percent from year-ago levels when weighed against $1.26 trillion in November 2021.


The consolidation of trading volumes is rather usual given a downtick in volatility and market drivers. By comparison, October featured more activity, as investors traded frantically in response to the recent developments about the Russia-Ukraine war, central banks’ policy and soaring inflation, among other headlines.


Overall, both retail and institutional venues all reported lackluster metrics for the month, which makes Exness’ static reading a positive.


The number of active clients has been also off the charts, having crossed the 383,000 mark for the first time in the group’s 14-year history. This was up 5 percent from 369,000 in the month earlier. On a year-over-year basis, the number of active clients was up 55 percent from 246,000 in November 2021.


Activity on Exness’ trading platform has been consolidating as the bull run in the third quarter created a profitable opportunity for industry players, from major venues to an array of retail-focused FX brokerages.


The average trading volume in 2021 was $820 billion, but the metric has jumped to record levels above the $2 billion mark in 2022 due to frenzied buying and selling activities. The uptick in volumes also comes as Exness, which is authorised by the FCA as an IFPRU €730K firm, continues to restructure its business.


Earlier in November, Exness appointed also Greta Killytė, who has a colorful career across the gaming industry, as its newest head of regional marketing. Greta lands at the FCA-regulated firm coming from PokerStars, an online poker cardroom that was a part of The Stars Group until it was sold to Flutter Entertainment two years ago. There she worked for nearly three years as a senior casino acquisition manager.


Greta Killytė is the second exec from the igaming industry that Exness onboarded over the last few months. Her co-worker at PokerStars Casino, Alfonso Cardalda joined the firm as a chief marketing officer back in April. He spent 12 years there and was instrumental in leading the igaming entity’s operations until he left.


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