Saxo Bank, a Danish bank specialized in providing online trading services, reported on Friday its trading volume increased slightly on the month to $259 billion in February 2016. This is the company’s highest monthly trading volume in the past 12 months. If compared to the same month in 2015, the increase is nearly 45%.The broker’s daily trading volume averaged $12.3 billion in February. The figure represents a 37% growth over the year. However, it is 4.6% lower if compared to the previous month when the average daily volume was $12.9 billion.
Meanwhile, clients deposits amounted to $10.95 billion at the end of February, compared to $10.79 billion in January and $11.09 billion a year earlier.
In comparison, GMO Click Holdings and Monex Group, which posted their February metrics on Thursday, had over-the-counter (OTC) forex trading volumes of JPY 161 trillion and $42.9 billion, respectively.
Saxo Bank, set up in Copenhagen in 1992, offers about 30,000 trading instruments, including forex, binary options, contracts for difference (CFDs), stocks, bonds, and futures.
The company holds a banking license from Denmark’s Financial Supervisory Authority (FSA). The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.
Source: Saxo Bank