Saxo Bank’s 2016 trading volume jumps 17.4% in 2016

Saxo Bank’s 2016 trading volume jumps 17.4% in 2016

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Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday its trading volume jumped 17.4% to nearly $3.2 trillion in 2016, compared to $2.7 trillion a year earlier. It saw a strong 2016, despite closing the year rather weak.

In December the bank’s trading volume fell to $253 billion, which is the second lowest in 2016 after August ($221 billion). The figure represents was 26.5% lower than in November when the broker saw a 24-month high value, but it also represented a growth of 12% from a year earlier.

The daily average volume last month stood at$11.5 billion, or down by 26% on the month and up by 17.3% year-on-year.

Saxo Bank also reported its client deposits reached a new record-high of $13.08 billion in December. Following are the forex bank’s monthly trading metrics for 2016:

Saxo Bank 2016

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.

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