The normally slow late summer FX trading weeks seem to have been anything but, at least for some eFX providers.
CySEC and FCA regulated broker Exness has reported that forex volumes in its system came in at $274.8 billion in August, 11% above July’s $248.4 billion making the month one of Exness’ best ever.
In fact, August volumes at Exness were second only to the company’s record $313.7 billion of trading volumes which Exness set in March.
Exness saw 44,408 active traders in August, up from 43,460 in July.
For the first half of 2017, Exness honoured $192 million in client withdrawals, and paid out $28 million in payments to partners, mainly introducing brokers. We’d note that Exness has its volume, client withdrawal and partner rewards figures audited on a quarterly basis by global accounting firm Deloitte. The Deloitte Independent Assurance Report for the most recent quarter (Q2-2017) for Exness can be seen here (pdf).
During June, Exness reported that it had completed the upgrade of its FCA license in the UK to ‘IFPRU €730k’. This means that the company can now trade with its clients as principal without the matched limitation. Having acquired its full scope license, Exness UK is set to expand its global reach by becoming fully operational in the coming months.