Multi-asset broker Exness recently released its monthly report with disappointing results. The FCA-regulated broker failed to maintain momentum due to a less volatile market atmosphere.
Exness obtained an FCA license in the UK in 2016 to operate its business in the forex and CFD fields. One year later, Exness launched new assets, such as metals and commodities, to meet client needs.
Record 879 Billion USD In August
Exness recorded a trading volume of $879 billion for August, down 9.8% compared to the previous month at $975 billion. In fact, on an annual basis, Exness' turnover increased significantly by 50% compared to the same month in 2020 at $590. Despite this, the August result was still the third-best monthly volume in the history of the Exness broker.
At the start of 2021, the average trading volume was $820 billion but has climbed above $900 billion over the past three months due to frenetic buying and selling activity. This is due to investors' concerns about vaccination, which does not seem to be able to boost the global economy back to pre-pandemic times.
The escalation in volume is also driven by the business restructuring activities that Exness is currently carrying out by continuing to improve its business performance in all areas.
The increase not only occurred in trading volume but also the addition of an active client base of 224,544, up 57% percent from 142,753 in August 2020.
Exness is one of the leading forex and CFD brokers that offer instant withdrawal convenience. This broker also has super low spreads to reduce trading costs on all account types.