Global Retail FX and CDFs broker Exness has reported a highly impressive month as volatility continued in the currency and crypto market.
The July report revealed by the FX broker shows a record-breaking performance in trading volume, hitting $974.5 billion for the month. The figure is 13% higher than the $861.7 billion figure reported in June.
It also surpassed the previous monthly record achieved in March 2021 when the total volume hit $930.6 billion. The trading volume for July also improved massively when measuring on a year-over-year (YoY) basis, as the total trading volume for July 2020 was $595 billion.
The broker is still benefiting from the volatility in the market, spurred by the impact of the Covid-19 pandemic last year.
Highly impressive month on all fronts
Exness has been having a solid year, reporting consistent revenue growth since the past year. Although in May and April 2021, the figures slumped slightly. However, after the corrections, the sales volume on the platform has kicked off again, culminating in an all-time high volume in July.
It shows the increasing demand in retail trading markets, which has reverberated throughout the industry.
Apart from its recording braking sales volume, the broker has also reported a record number of active clients for the month. According to the records, the broker had a total of 209,370 active traders on the platform in July, which is a sharp increase from the 204,925 recorded in June.
Expansion plans are on the way
Exness opened for business in 2008 with a Cyprus Investment Firm (CIF) license. However, it operates in the U.S. and has garnered lots of clients over the years. The company said it is diverting its attention to other emerging markets such as Africa and Southeast Asia. A few months ago, the broker receives an operational license from the Financial Sector Conduct Authority in South Africa (FSCA).
The broker says it is committed to protecting the funds of users on its platform. in line with the dedication, it recently joined the Financial Commission as a member. This comes with several benefits for the users, as well as protection of about €20,000 for every client on the platform.