Saxo Bank’s April forex volume down 25% MoM

Saxo Bank’s April forex volume down 25% MoM

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The April forex trading volume of Saxo Bank, a leading Danish investment services provider, bank and retail forex broker, stood at $206.5 billion.

This is nearly 25% lower than in March and the lowest since the start of 2017. According to the company data, the forex daily average volume stood at $10.3 billion.

Overall, Saxo Bank’s April monthly volume across all assets is the lowest since the start of 2017 and was $284.1 billion. In comparison, in March it was $376.7 billion – the highest this year so far. The report reveals that the main drivers of the monthly decline are indeed the forex segment, along with the fixed income. The other main asset classes offered by Saxo Bank – equities and commodities – are performing fairly well, despite worse than in March.

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.

Earlier this month the company reported a record sum in client collateral deposits, exceeding DKK 100 billion (nearly $15 billion).

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