Exness Reports 9.8% Correction in August Trading Volume

Exness Reports 9.8% Correction in August Trading Volume

The total trading volume for the month came in at $879.4 billion.

Exness, a global forex and CFDs broker, has published key trading metrics for August, showing a correction in monthly trading volume from the peak the platform achieved in July. According to the latest numbers, the total trading volume on the broker came in at $879.4 billion for the month.

This figure is almost 9.8 percent lower than the July peak, but is still the third-best monthly volume reported by the broker in its operating history. The monthly correction mostly resulted from the summer vacationing traders, which has become a cyclical trend in the trading industry.

The broker still maintains the uptrend in its demand as, on a yearly basis, the monthly trading volume gained nearly 47 percent. The sharp recovery in volume started last May and continued as the broker is now poised to break the $1 trillion mark.

Despite the correction, the global brokerage reported a significant jump in the onboarding of new traders. It added 15,174 new traders in August alone, which is among the highest single month additions by Exness, and ended the month with a total of 224,544 traders.

Hiring Spree

Apart from the trading activities, Exness spent last month strengthening its leadership. It hired Marko Jagustin as the new Head of Liquidity Provision (LP), who has an overall responsibility to develop the firms B2B proposition. Further, it also on-boarded Wael Makarem and Ahmed Badr as the senior market strategist for MENA and MEA sales team lead, respectively.

Meanwhile, the broker is expanding its geographical reach as well and obtained a South African FSCA license earlier this year. It also became a member of the Financial Commission that will provide fund protection of up to €20,000 to each Exness client.