1 year ago
108 Activity on Exness’ platforms dropped last month to $2.0 trillion, which is lower on a monthly basis by -5 percent from $2.1 trillion in April 2022. The figure was however higher by 157 percent from year-ago levels when weighed against $778 billion in May 2021.
The consolidation of trading volumes is rather usual given a downtick in volatility and market drivers. By comparison, March featured more activity, as investors traded frantically in response to news about the Russia-Ukraine war, central banks’ policy and soaring inflation, among other headlines.
Overall, both retail and institutional venues all reported lackluster metrics for the month, which makes Exness’ static reading a positive.
The number of active clients has been also off the charts, having crossed the 304,000 mark for the first time in the group’s 13-year history. This was up 8 percent from 281,279 in the month earlier. On a year-over-year basis, the number of active clients was up 47 percent from 207,000 in May 2021.
Exness awarded license in Kenya
Exness made headlines earlier this week after it was granted an FX brokerage license in Kenya.
Exness joins a handful of non-dealing online foreign exchange brokers that were licensed by the Capital Markets Authority (CMA) over the last two years. The notable entrants into the African forex scene includes HotForex, EGM Securities Ltd (FXPesa), which received its first license in 2018, followed by SCFM Ltd (Scope Markets) in 2019, and Pepperstone in 2020. Exinity Capital East Africa Limited, which was founded by Andrey Dashin, owner of brokerage companies Alpari and FXTM, also secured a similar approval less than two years ago.
This brokerage license allows Exness to provide its clients with access to currency markets but without being engaged in market-making or managed accounts activities.
Exness acquired its regulated UK license, an IFPRU €730K firm, back in 2016 to operate a CFDs brokerage business. The broker launched a mainly retail offering, which focused on CFDs in Forex and commodities. In light of an internal business decision to restructure its business and focus on other markets to grow their B2B operations, Exness decided in 2019 to close the retail business in the EU/EEA region, including in the UK.
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