Saxo Bank sees 22% jump in August trading volumes to $454B
Following a poor first half of 2023 and a slow start to the second half of the year in July, Copenhagen based Retail FX and CFDs broker Saxo Bank saw a healthy jump in client trading volumes during August, led by record Equities trading.
Overall, multi-asset trading volumes at Saxo Bank came in at $453.7 billion in August 2023, up by 22% from July’s $371.9 billion. As noted above leading the charge was Equities trading, which totaled $295.8 billion for the month – topping Saxo’s previous best ever month for Equities trading in January 2022 ($291.7 billion).
Equities trading accounted for 65% of total trading at Saxo during August. Core FX trading slowed by 1%, to $112.3 billion.
Client trading volumes at Saxo Bank in August 2023 were as follows:
- FX trading down 1% MoM to $112.3 billion.
- Equities up 33% to $295.8 billion.
- Commodities trading up 28% to $37.9 billion.
- Fixed income trading up 7% to $7.8 billion.
Saxo Bank is controlled by China’s Geely Group.