Saxo Bank trading volumes fall 34% in April 2023 to $319B
Copenhagen based Retail FX and CFDs broker Saxo Bank has released client trading metrics for the month of April 2023, indicating that the company had its slowest month so far this year.
Overall, total client trading volumes at Saxo Bank came in at $318.7 billion, down 34% MoM from March’s $482.1 billion. Saxo saw double-digit percent declines in the trading volume of all its asset groups, with core FX pair trading falling to its lowest level since 2021, at $102.8 billion.
Client trading volumes at Saxo Bank in April 2023 were as follows:
- FX trading down 34% MoM to $102.8 billion.
- Equities trading down 33% to $174.7 billion – lowest level since August 2022.
- Commodities trading down 22% to $34.3 billion.
- Fixed income trading down 70% to $6.8 billion.
We reported in early 2023 that Saxo Bank is eyeing a traditional IPO in its home market (Nasdaq Copenhagen) following its failed attempt last year to go public via a SPAC merger. Saxo Bank is controlled by China’s Geely Group and Finland’s Sampo.