Saxo Bank, a Danish bank specialized in providing online trading services, reported on Thursday its trading volume stayed flat on the month to $266 billion in October 2016, which is the highest since February 2015.
The October volume represents a growth of 22% from a year earlier. On average, the forex bank had a daily trading volumes of $12.6 billion, which was slight up by 2.4% over the month and more than double the value reported a year earlier.
Meanwhile, the amount of client deposits Saxo Bank handled went a bit down to $13.01 billion in October from $13.17 billion in September and 15.7% from October 2015.
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.