Saxo Bank Group sees clients’ assets surpass DKK 500 billion
Multi-asset trading expert Saxo Bank has reported a set of important achievements for 2020.
For starters, 238,000 clients opened an account during 2020, depositing more than DKK 75 billion (EUR 10 billion) and made a trade on Saxo Bank’s platforms.
Clients’ assets have passed a record-breaking milestone of DKK 500 billion (USD 80 billion) – an important milestone in Saxo’s history and testament to the high levels of trust from its growing client base. This is yet another record-breaking milestone in the 28 years since Saxo Bank was founded. It took 25 years to reach the DKK 100 billion milestone. Then another 3 years to exceed the DKK 500 billion.
Saxo Bank has seen a healthy growth in clients’ assets for many years, but the positive trend has accelerated exponentially following a dedicated focus on constantly improving the SaxoExperience. Other key factors, according to Saxo, include the further expansion into the investor segment which have further fueled the organic growth in new clients along with the successful integration of BinckBank.
Kim Fournais, CEO & founder, comments:
“We would like to thank our increasing number of direct and institutional clients for their trust and confidence in Saxo Bank. We are proud and humble to reach this important milestone and we will continue to innovate and constantly improve the SaxoExperience – so our growing number of clients across the world can benefit from state of the art platforms and act in a timely, relevant, and informed manner.
Saxo Bank grows with our clients and their satisfaction with our platforms and services is the driver of the healthy growth we have seen over the past years. We are investing heavily in our platforms, products, prices, and services – and we expect this very positive development in both number of clients and clients’ assets to increase even further in the years to come.
I would also like to thank our more than 2,000 dedicated and hard-working Saxonians for their enormous efforts in reaching these milestones. We all work for our clients and will do our very best every day to continue to earn their trust, meet their needs, empower them to fulfill their financial aspirations and make an impact – and help them navigate the markets especially as we go through periods of high volatility.”
Saxo Bank last week released its client trading volume statistics for the first month of 2021, with overall activity increasing but core FX trading being weak, continuing a trend from 2020.
Equities trading came in at $123.2 billion in January, up 34% over December and one of Saxo’s best months ever for equities. As FNG has noted, much of that activity occurred in the last week of the month, as retail traders worldwide became attracted to the “Reddit revolution” against heavily shorted US stocks.
FX trading, however, totaled $118.2 billion, down 8% from December, representing one of the slowest months ever for currency pair trading at Saxo even as currency volatility was also ramping up. FX trading averaged $146 billion monthly at Saxo Bank in 2020.