News: Exness Trade Volume Exceeds $2 Trillion, Breaking All Previous Records

Almost a week before the end of March, the broker crossed the $2 trillion mark.

Exness saw an increase in trading activity across FX pairings and commodities.

Exness, one of the major financial trading platforms, saw record-breaking trade volume in March, Finance Magnates has discovered exclusively. Trading volume has now surpassed $2 trillion, the greatest amount in Exness's operating history.

The retail FX and CFDs broker based in Cyprus has crossed the $2 trillion barrier nearly a week before the end of March. Exness had a successful month prior to the recent statement. The financial trading services provider's trading volume reached $1.59 trillion in February 2022.

Damian Bunce, Chief Trading Officer at Exness, told Finance Magnates in an exclusive interview that unpredictable geopolitical events and growing global inflation pushed trading activity across several currencies and commodities.

“With less than a week till the end of March, we understand Exness has already broken another volume record, breaking the 2 trillion barrier.” The business is reacting to geopolitical events, firstly the war in Ukraine, which has caused volatility across assets, but particularly US Oil and Gold, and secondly, a more hawkish Federal Reserve stance has seen the Yen weaken versus the Dollar, so there is a lot of activity in these currencies related to inflationary talk. “We continue to witness an inflow of new consumers drawn to our trading conditions at a time when the markets provide opportunity,” Bunce told Finance Magnates.

Volumes of Cryptocurrency

Since December 2021, the cryptocurrency market has been on a downward trend. Traders' interest in the developing asset class has dwindled as the market has corrected. According to Bunce, the current drop in crypto activity has enabled traders to look into other assets.

“Crypto volumes (particularly BTC) have been declining for a few months throughout the sector, particularly in March when traders saw better possibilities in other assets,” Exness' Chief Trading Officer noted.