The Danish investment services and retail forex broker Saxo Bank trading volume in June posted a 2.4% rise from May to USD 261 billion. Back in May it was 255 USD billion, down from April’s USD 261 billion.
The monthly key figures report of Saxo Bank shows that the daily average trading volume was USD 11.9 billion, up almost 2.6% from May.
The clients’ deposit collateral for trading continued rising since the beginning of the year and in June totaled USD 12.25 billion.
The rise of the trading volume of Saxo Bank is much similar to that of other large forex brokers that already reported their monthly metrics, like GMO Click Securities, Monex Group, Gain Capital’s institutional arm GTX and HotSpot FX. This could partially be attributed to the Brexit-related volatility on June 24, when brokers like Oanda, GTX, Plus500 and the cryptocurrency exchange Coinbase reported a spike in trading and new client sign-ups. A Saxo Bank analyst, on the other hand, said June 24 was “the best day for the markets in 20 years”.
Saxo Bank, founded in Copenhagen in 1992, is a brokerage firm and a market maker. It holds a banking license from Denmark’s Financial Supervisory Authority (FSA). It offers trading in more than 30,000 instruments, including forex, binary options, CFDs, stocks, futures, and bonds through its proprietary online trading platforms SaxoTrader and SaxoTraderGO, which has versions for Android and iOS devices.