Saxo Bank’s trading volume stays strong in Oct 2016

Saxo Bank’s trading volume stays strong in Oct 2016

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-oct-2016Saxo 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.

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