PODCAST | Digging into the online trading boom

The growth of online financial markets trading is the focus in this edition of Business Day Spotlight. Host Mudiwa Gavaza is joined by Damian Bunce, chief customer officer at international multi-asset brokerage firm Exness. 

Founded in 2008, the platform gives its users the ability to trade across a range of financial markets and instruments such as gold, equities, indices and cryptocurrencies. 

As of April the company had 476,000 users globally, with about 150,000 being from SA. 

Bunce says the company has grown since then. Among a host of factors, it has benefited from increased internet usage globally, social media and a willingness among consumers to learn about market trading and to trade for themselves in the financial markets. These factors were further compounded during the Covid-19 pandemic.

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“In terms of trade volumes we’re the largest in the world today. We execute an average of $3.5-trillion per month, which as you might imagine, is pretty huge,” he says. 

“To give you some context: the foreign exchange market trades roughly $7.5-trillion dollars per day. The retail trading community represents roughly $1-trillion per day and of that, Excess is trading $150bn per day.” 

That would give the firm about 15% global market share. 

Topics of discussion include: the growth of online trading; Exness’s business model; attitudes around online trading; what people are investing in at the moment; and how the market is likely to trend in future. 

Business Day Spotlight is a TimesLIVE Production.