EXNESS has today continued its call for the retail Forex industry to become more transparent in order to build trust amongst retail traders.
George Tsaparillas, Director of Global Strategy and Business Development of EXNESS, comments: "It's incredible that retail Forex broking has grown into such a massive industry with such minimal transparency. Many traders have deposits with brokers with no real visibility of their broker's trading volumes, performance or financial strength. At times of market stress, such as we saw with the Swiss Franc in January, transparency really matters and we think will be critical for the retail Forex industry to build trust amongst traders moving forward."
Today, EXNESS has released its trading volumes, client withdrawals and agents' commissions for the period 1 January to 31 March 2015. All figures have been verified by Deloitte, one of the world's leading auditing firms.
For the first quarter of this year, EXNESS' trading volumes were US$549 billion, an increase of US$13 billion on Q4 2014 and US$91 billion more than the same period last year. Average monthly trading volumes were US$183 billion, a rise of 20% compared to Q1 2014.
Client withdrawals, which often represent profits taken by traders, were US$50.3 million during the first three months of this year, an increase of 20% on Q4 2014. Commissions paid to clients for introducing new traders to EXNESS totalled US$8.1 million, increasing 19% compared to the final quarter last year.
George Tsaparillas comments: "We have seen a strong start to 2015 and our focus on providing the best conditions to trade has made us a very attractive choice for traders. Our clients have also started the year strongly with significant increases in both client withdrawals and commissions paid."