Exness, a EU-regulated forex broker in Cyprus and the UK, reported a record monthly trading volume of $266 billion in January 2017. The figure represents more than 32% growth from the preceding month when it generated a volume of $201.2 billion.
“This is an important milestone in the Group’s growth as it signals a historical landmark and the conquering of new grounds. A broker’s trading volume is one of the strongest indicators not only of its clientele’s size but also of the fact that this clientele is active,” the broker said in a statement.
Exness has been reporting a steady, constant growth in trading volume over the years. Its previous highest monthly volume was $253.2 billion and was recorded in July last year. Overall, 2016 was a good year for the broker as its trading volume reached a record-high of more than $2.4 trillion. For comparison, in 2009 its volume stood at $8.7 billion.
“Our record-breaking figure of $266 billion places us among the top retail forex brokers worldwide in terms of trading volume and is strong testimony that we are truly a market leader,” Exness noted.
Indeed, if compared to the rest of the forex brokers that publish monthly trading metrics, Exness is set to be one of the top leading brokers in terms of trading volume. According to the latest data available, in December the broker was lagging behind Forex Capital Markets (FXCM) and Saxo Bank. However, thanks to the broker’s significant growth, paired with the fact that FXCM is exiting the US and selling its client base there, Exness could become the second best broker after Japanese forex giant GMO Click Securities.
Exness, set up in 2008, offers trading in more than 120 currency pairs via the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms. The brokerage is licensed by the Cyprus Securities and Exchange Commission (CySEC) and since recently by the UK Financial Conduct Authority (FCA). It is also registered with the relevant regulatory bodies in Germany, the Netherlands, Poland, Spain, Italy, and Sweden. The broker used to have a license from the Belize International Financial Services Commission (IFSC), but no longer does.