Saxo Bank’s FX volume falls 5% MoM in January

Saxo Bank has released its trading results for January 2023. The Denmark-headquartered financial services provider registered a small monthly, as well as yearly decline in its trading volumes.

Last month’s total trading volume stood at $357.6 million. The number marked a 14% decrease from December’s $415.7 million. On yearly basis, the figure was 18.4% lower.

The platform saw forex trading volume of $115.2 billion in January, registering a 5% drop compared to previous month’s $121.3 billion. However, the number was up 6.4% compared to January 2022.

Saxo Bank

The average daily volume (ADV) in forex instruments stood at $5.2 billion. The figure was the same as last year’s and fell 5.5% on monthly basis.

The brokerage firm reported that demand in Equities also fell. The volume in January was $219.7 billion, falling 14% compared to December. On yearly basis, the asset class dropped 24.7%.

Fixed income instruments brought in $7.7 million, down by 2.5% compared to the previous month. The demand for commodities increased 6.5% on monthly basis at $32.8 million.

Meanwhile, Saxo Bank stated last month that there is still a chance for an IPO, a month after it terminated the merger deal with blank-check company Disruptive Capital Acquisition Company Limited (DCAC) as the Group stated that it is looking at listing in Copenhagen.

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