Saxo Bank’s May forex volume rises 13.8%, MoM

Saxo Bank’s May forex volume rises 13.8%, MoM

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The May forex trading volume of Saxo Bank – a leading Danish investment services provider, bank and retail forex broker with a global presence – has risen 13.8% over the month, shows the company report.

According to the data, the total forex volume stood at $235 billion, which is a significant improvement from April’s performance, but still is the second-lowest since the start of the year. At the same time, the daily average forex volume was $10.2 billion – a decline of nearly 1% from April and the lowest since the start of the year.

The overall monthly volume of Saxo Bank across all asset classes, including commodities, equities and fixed income instruments was $331.1 billion, which is a 16.5% rise from April, but is still not a very good result, compared to the other months since the start of the year.

Judging by the results, the forex instruments continue to constitute the significant portion of Saxo Bank’s trading business, with almost 71% of the trading volume.

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 week it transpired that Saxo Bank’s Australian unit – Saxo Capital Markets – has inked an agreement with the local online stockbroker OpenMarkets.

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