We characterize the long time behaviour of a discrete-in-time approximation of the volume preserving fractional mean curvature flow. In particular, we prove that the discrete flow starting from any bounded set of finite fractional perimeter converges exponentially fast to a single ball. As an intermediate result we establish a quantitative Alexandrov type estimate for normal deformations of a ball. Finally, we provide existence for flat flows as limit points of the discrete flow when the time discretization parameter tends to zero.