Exness-held funds grow to $157.5 mln at end-2016

Exness-held funds grow to $157.5 mln at end-2016

- in All News, Featured News, Forex Brokers
exness

Forex brokerage group Exness held funds in the amount of $157.5 million at the end of 2016, the group said. Traders had $29.9 million with the broker at the end of last year, while Exness’ own funds amounted to $127.6 million.

The results were confirmed by a report prepared by consultancy company Deloitte. In comparison, a year earlier the brokerage held $106.68 million.

“Our view on transparency has always been one and the same; a higher degree of it is needed in the forex industry, and the Exness Group will stand strong in supporting and reinforcing this notion with actions which speak louder than words,” Exness CEO Petr Valov said.

In its report, Deloitte noted that its report was developed solely to assist Exness’ management and its findings are not intended for the general public.

“Because the above procedures do not constitute either an audit or review made in accordance with International Standards on Auditing or International Standards on Review Engagements, we do not express any assurance on the total funds that are held by Exness, the total clients’ funds and the total Exness’ own funds as at 31 December, 2016,” the consultancy said. The Deloitte report is accessible via this link.

Exness’ trading volume stood at $622.4 bn in Q4 2016

Exness also announced its trading volume for Q4 2016 totaled $622.4 billion. Meanwhile, total agents’ commissions were $11.5 million and total clients’ withdrawals amounted to $77.9 million for the October-December period. The data relates to activities executed via the MetaTrader 4 (MT4) trading platform.

Indeed, 2016 was a good year for the broker in terms of trading volume. For the whole year, Exness clients executed trades exceeded $2.4 trillion. In comparison, the broker’s trading volume in 2009 stood at $8.7 billion. However, the beginning of 2017 has turned even better as the broker continued to post record values (two out of three months). In March, its trading volume hit $313.7 billion. More data is available here.

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.

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