Saxo Bank’s trading volume slightly falls m/m in May 2016

Saxo Bank’s trading volume slightly falls m/m in May 2016

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After reaching a 15-month high a month earlier, Saxo Bank, a Danish bank specialized in providing online trading services, saw its trading volume going down to $255 billion in May 2016. The figure represents a slight decline of 1.9% from a month earlier and an increase of 16.4% on an annual basis.

The brokerage had an average trading volume of $11.6 billion per day last month, compared to $12.4 billion in April and $10.4 billion in May a year earlier. Its client deposits, however, posted an increase both on a monthly (1.3%) and a yearly basis (6.6%) to $12.22 billion in May.


Jan 2016

Feb 2016

Mar 2016

Apr 2016

May 2016

Daily average (USD bn)






Monthly volume (USD bn)






Clients’ collateral deposits for trading (USD bn)






In comparison, in the May GMO Click Securities and FX Prime, both part of Japanese forex brokerage group GMO Click, also saw their trading volumes on decline. GMO Click Securities’ volume amounted to JPY 91.7 trillion in May, falling below JPY 100 trillion for the first time this year, and that of FX Prime was JPY 4.8 trillion, or 31.7% below the value reported a month earlier. The rest of the forex brokers are yet to publish their monthly metrics.

In April, Saxo Bank outperformed its US peer Gain Capital by trading volume and replaced it as the world’s third forex broker with the highest retail trading volume.

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. Recently, Saxo Bank announced it is shutting down its offices in Russia, Poland and Greece. It said at the time its clients in these regions will be served by its larger offices. Meanwhile, it is expanding its presence in China through white-label partnerships with Lufax, a leading Chinese internet finance company, in addition to a tri-party deal with Wallstreet CN and LeanWork.

In late May the company announced SaxoWebTrader, the web version of its proprietary platform offering, will be decommissioned within several months. A month earlier it 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

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