Exness is a brokerage firm that has made a mark in the trading economy. As per Exness metrics, the broker’s trading volumes jumped 12% to $3.335 trillion (495 trillion KSh) from $3 trillion (420 trillion KSh) in April. This impressive growth was recorded as a 67% year-over-year in trading volumes in May from $2.004 trillion (280 trillion KSh) in the same period last year. Currently, it is the fourth consecutive month that Exness reported trading volumes of more than $3 trillion (420 trillion KSh), starting from February 2023. These explosive numbers can be largely attributed to the increase in active users, which rose 8% in May to 515,099 from 476,172 in April.
Riding this success, Exness continues to expand its product offerings and initiatives to different parts of the world. One particular region they are targeting is Sub-Saharan Africa, where they have recently obtained licensures to operate as a non-dealing online broker. Alongside Africa’s evergrowing economy, Exness is poised to dominate the African trading market. This article will examine how the multi-asset brokerage expanded across Africa and the key features that drove its popularity and success.
A look into Exness’ expansion in Africa
In the last two years, Exness’ presence has significantly grown across Africa. While the multi-asset brokerage was already present in Sub-Saharan Africa before this period, and being granted licensures connected the platform with much more professional traders and valuable partners.
In January 2021, Exness first received its regulatory license from the Financial Sector Conduct Authority (FSCA) in South Africa, allowing them to provide services to partners and traders under a secure regulatory environment. This first FSCA license then served as a jump-off point for other licensures. On May 30, 2022, the Capital Markets Authority of Kenya (CMA) provided Exness with a new Kenyan license, which has only been given to a handful of other brokerages. This enables the multi-security platform to work as a non-dealing online broker in the country, providing clients access without engaging in market-making or managed accounts activities.
Latest changes to Exness’ reach
On March 13, 2023, Exness expanded its African footprint by inauguring a new office in Kenya. Located in Nairobi, the office will enable Exness to better service the citizens of Kenya, and Africa, and allow them to access global markets more easily. As commented by Exness Regional Commercial Director for SSA, Paul Margarites, “It is a major milestone for Exness’ continuous growth in Africa, which focuses on localisation and catering to the needs of our clients in the country and continent.”
Features that drive Exness’ popularity
Given these significant achievements as well as reliable platform features, it’s no surprise that Exness continues to proliferate. Below are some features that made the multi-asset broker famous and what keeps the platform going:
Protection against volatility
All traders know that trading often comes with risks, especially following financial news and events. To safeguard against volatility in stocks trading, Exness caps leverages at 1:5 during financial announcements and increases margin requirements for newly opened positions. The platform also limits slippage for pending orders, allowing traders to execute trades closer or at their requested price. Newer traders also benefit from the Stop Out protection, which safeguards them from sudden spread widening.
Integrates well-known third-party platforms
The platform can be considered one of the best trading apps in Kenya, largely due to its successful integration of third-party platforms. Exness supports both MetaTrader 4 and MetaTrader 5 trading platforms, allowing them to personalise indicators, access a wide range of charts, and engage in automated trading. Furthermore, their application implements TradingView, which is fully integrated and can give technical insight and instant pattern recognition to trades.
Free and accessible
Of all authorised brokers, Exness’ spread is one of the lowest. Even on their standard account, there are spreads of one pip on average for EUR/USD. Furthermore, their standard and pro accounts do not have additional trading commissions so that traders can make the most of their margin.
With their continual achievements, Exness remains a reliable and popular trading platform, especially in Africa.