Saxo Bank Recovers in FX Demand, Trading Vol Jumps 44% YoY.

Despite a monthly decline in overall activities, Saxo Bank’s June trading metrics report significant year-over-year growth. Total trading volume for the month came in at $398.8 billion, which is 5.4% lower than the previous month.

It still marks a 41% increase from June 2020 levels. The bank points to higher demand for options and commodities as key drivers of the year-over-year growth. Options and commodities drove the year-over-year increase.

The demand for forex trading on Saxo’s platform improved marginally last month. The total monthly volume with forex instruments came in at $152.5 billion compared to the previous month’s $149.6 billion and June 2021’s $106.1 billion.

Thus, forex demand became 2% stronger month-over-month and almost 44% yearly.

Furthermore, the average daily trading volume was $6.9 billion in June, which was an all-time high. The data indicate that Saxo’s platform is becoming more popular for forex traders. This trend will likely continue as more traders seek platforms with high liquidity and tight spreads.

Other Markets

The demand for equities trading, on the other hand, fell in May. The aggregate volume of equities instruments sold by Saxo was $192.1 billion, which is lower than April’s $220 billion. Every year, this asset class also improved, with demand increasing by almost 52%.

Furthermore, Saxo provides commodities and fixed-income trading services. While demand for the first fell by 14.7%, the second improved by 45.7% month over month.

Saxo Bank is a Danish multinational financial services corporation with operations in Asia and the Pacific. Its regional presence has grown more prominent, with several significant hires in recent months. In May, Saxo Bank added Charu Chanana to its APAC market strategist team, expanding the company’s presence even further into the region.

On the other hand, other retail trading platforms are seeing healthy transaction growth. Exness, based in Cyprus and has a global presence in emerging economies, announced $2.25 trillion in monthly trading volume.