Exness, an online forex brokerage firm, releases its financial report for the month of February 2023, showing a stronger trading volume in all the areas of its trading business. As per the reports, there is a remarkable growth in trading volume for the fourth consecutive month. Trading volume hit 3055 billion USD in February 2023, while it was 2822 in the previous month. Moreover, statistics show a commendable rise in the number of active clients from 414502 to 440151 in February.
To top the list, Exness has inched closer to the mark of $3,200 billion in terms of the trading volume. A figure of $3,055 billion was registered in February. This is an increase from the previous month when the number was at $2,822 billion, a year-on-year increase of 86%. True, considering the figure was $1,510 billion for January 2022. This was followed by a rise to $1,587 billion and then a huge jump to $2,484 billion in March 2022. March 2023 has started, and Exness could soon reveal the Y-o-Y growth on April 23.
The previous year ended with December delivering a number of $2,525 billion for trading volume. A major increase was less expected, but it happened, strengthening the position in all the markets, including South African markets where Exness is on the list of best brokers along with other SA forex brokers like Tickmill, IG Group, and Plus500, to mention a few. 2022 saw a major jump in August for the height of $2,811 billion, followed by a constant drop until the very end of the year. It remains to be seen if 2023 will follow the same trend.
The number of active clients had certainly increased from January when Exness had 414,502 users active on the platform. The monthly growth had taken the number to 440,151 against the Y-o-Y growth when the same month had only 269,692 users active on the platform. Growth, nonetheless, is great for the brokerage firm. November 2022 was followed by a drop in the next month. Incidents like those take away the brand image easily.
A report for how much has been awarded to partners in every quarter of 2022 has also been shared. Oct-Dec was in a downfall with $99.1 million commission paid while the previous quarter was on a higher side with $106.5 million commission. That was the last quarter when the reward to partners increased. January – March 2023 have a lot riding on their shoulders.
Client withdrawal is the aspect where the quarter did not go negative. $1134.6 million in withdrawals were recorded in the last quarter of 2022, a rise from the previous quarter’s figure of $1102.5 million.
Founded in 2008, Exness operates only in regulated markets to offer a wide range of products, including, but not limited to, metals, forex, and stocks. There is a provision of demo accounts for new forex traders. Our Exness broker review sheds more light on how new traders can get benefits through Exness. 24/7 customer support is one of the features that come in handy for new forex traders.
Financial reports have so far shown a brighter picture of Exness. Moving forward, the community of investors and traders will develop a better understanding of how 2023 rolls out.