Saxo Bank trading volumes up 9% in September driven by Equities
Following a slow August, Copenhagen based Retail FX broker Saxo Bank had a nice rebound in trading volumes during September.
Overall, total trading volumes were back above $300 billion at Saxo, coming in at $303.8 billion in September. That marked a healthy 9% increase over $279.4 billion in August.
Most of the increase during September at Saxo Bank was due to strong Equities trading, as equity markets around the world remained quite volatile. Equities trading volumes came in at $124 billion, up 48% over August. Equities comprised 41% of all trading at Saxo during September, which we believe is an all-time-high for the company – and a good sign that Saxo Bank (like other leading Retail FX brokers) are no longer reliant just on FX trading activity.
FX trading totaled $133.6 billion in September, up 8% from August. Commodities $40.4 billion, down 39%. Fixed income $5.7 billion, off 3%. But again, all overshadowed by strong Equities trading activity.
Saxo Bank is controlled by China’s Geely Group, which bought a majority interest in the company in 2018.