Do not invest more money than you can afford to lose.
Saxo Bank, a Danish bank specialized in providing online trading services, said on Wednesday its trading volume hit $266 billion in September 2016, the highest since February 2015. The figure represents a growth of 20.4% from August when the broker’s volume fell to a 12-month low. Year-on-year, the broker saw an increase of 23.1%.
Trading volumes averaged $12.1 billion per business day in September, or 27.1% more than in August and up 24.5% from a year earlier.
All this means that Saxo Bank has kept its position as the world’s third largest forex broker by trading volume in September. The broker was not included in the chart since it published its monthly trading metrics later than usual.
Meanwhile, the amount of client deposits Saxo Bank handled continued to increase last month. reaching a new all-time high of $13.17 billion.
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 year, 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. At the same time, 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.
