Copenhagen based Retail FX broker Saxo Bank has reported its client trading volumes for July 2021, with the firm seeing a healthy increase in trading activity across most asset groups resulting in its second-best month so far this year.

In total, trading volumes were up by 9% over a weak June at Saxo, at $309.5 billion. Saxo continued to grow its equities business, up 22.7% in July to $155.4 billion representing more than 50% of overall volumes for the first time ever at the broker. Core FX trading volumes were at $111.9 billion, up 5% MoM.

The $309.5 billion figure for July was second only this year to March’s surprise $393.4 billion result, and was just the second time this year that Saxo Bank multi asset volumes topped $300 billion. In 2020 Saxo averaged $302.9 billion in monthly trading volumes.

Saxo Bank is controlled by Chinese conglomerate Geely Group.