Saxo Bank sees FX trading weak, equities strong in January 2021
Copenhagen based Retail FX and CFDs broker Saxo Bank has released its client trading volume statistics for the first month of 2021, with over activity up but core FX trading weak, continuing a trend we saw at the company throughout 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. We understand that 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.
Actual client trading figures at Saxo Bank in January 2021 by asset type were:
- Equities $123.2 billion (+34%)
- Commodities $32.7 billion (+16%)
- Fixed Income $7.7 billion (+24%)
- FX $118.2 billion (-8%)
Saxo Bank is controlled by China’s Geely Group, which bought a majority interest in the company in 2018.