Saxo Bank FX trading volumes down 8% in October 2021
Copenhagen based Retail FX and CFDs broker Saxo Bank has released its client trading volume activity data for the month of October 2021, indicating another slowdown in core FX trading volumes, although other asset areas more than made up the difference.
FX trading volumes for October at Saxo came in at $113.0 billion, down 8.3% MoM from September’s $123.2 billion. Equities have overtaken FX as the most actively traded asset class at Saxo, with volumes of $173.4 billion up 19% over September’s $145.7 billion. Commodities at $32.3 billion and Fixed Income at $7.0 billion were up slightly over corresponding September figures.
Overall, Saxo saw multi asset trading volumes of $325.6 billion in October, up 6.2% over September’s $306.8 billion.
Saxo Bank has also recently been pushing crypto trading in some jurisdictions, with volumes coming in at a reported $2.5 billion year-to-date, but that figure doesn’t yet really make a dent in the company’s overall figures.
Saxo Bank is controlled by Chinese conglomerate Geely Group.