Seychelles licensed retail forex broker Exness has posted its trading volumes and other client stats for May 2020, indicating a significant slowdown in activity for the second consecutive month.

After hitting a record $785 billion of client trading activity in March – when global stock, commodity, and currency markets were going haywire at the outset of the Covid-19 crisis – FX trading volumes cooled down to $480 billion in April and then again to $387 billion in May at Exness.

That makes May Exness’ slowest month so far in 2020. However by contrast Exness averaged $335 billion in monthly volumes during 2019, so the company is certainly still on a long-term growth trajectory. Exness’ slowest month of 2020 (so far) would have been its best month of 2019.

Despite the slowing activity, Exness still saw its number of active clients continue to grow, hitting a record 121,447 in May, up from 113,596 the previous month.

Exness revealed that it honored $192 million of client withdrawals in the first quarter of 2020, and paid out more than $37 million of partner rewards, making Exness one of the largest active affiliate programs in the retail FX world.

Exness has its client volumes, client withdrawal figures and agent commissions paid audited each quarter by Deloitte.