Saxo Bank, a Danish bank specialized in providing online trading services, said on Monday its trading volume amounted to $260 billion in April 2016, the highest monthly value so far this year. For the past 16 month, a higher value was recorded only in January 2015, when the trading volume reached $302 billion. The April figure represents a slight increase of 2.4% from the previous month and a jump of 17% from the same period a year earlier. The daily volume averaged $12.4 billion last month, up from $11 billion in March and $10.1 billion in April last year.
Client collateral deposits also reached this year’s highest so far of $12.06 billion in April.
In comparison, Exness, a forex brokerage regulated in Cyprus and Belize, reported a monthly drop of more than 16% in trading volume to $165.6 billion in April. Meanwhile US leaders Forex Capital Markets, aka FXCM, and Gain Capital, trading as Forex.com and City Index, saw their retail trading volumes falling over the month by 1% to $287 billion and 5% to $12.2 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.
Earlier this month, the bank said its mobile trading platform SaxoTraderGO, which was launched a year ago, accounts for more than 55% of its revenue generated from private clients.
Source: Saxo Bank