Copenhagen based Retail FX and CFDs broker Saxo Bank had its slowest month of the year so far in terms of client average daily trading volume (ADV), although total March volumes topped those of January and February thanks to there being more trading days available.

Saxo reported average daily volumes of $20.0 billion in March 2022, down 5% from February’s $21.0 billion. However when it comes to total volumes, Saxo had what amounts to its best month since March 2020 (at the outset of the COVID outbreak), reporting total multi-asset volumes of $460.4 billion, driven by a 35% rise in FX trading.

In summary for February:

• FX trading volumes $152.72 billion, +35% MoM.
• Equities $231.7 billion, -8%.
• Commodities $67.6 billion, +54%.
• Fixed Income $8.8 billion, +10%.

Saxo Bank is controlled by Chinese conglomerate Geely Group.