Saxo Bank’s FX volume up 39% YoY in November

Saxo Bank has released its trading results for November 2022. The Denmark-headquartered financial services provider registered a jump in forex trading and sections of the market on monthly, as well as yearly basis.

Last month’s total trading volume stood at $458.4 million. The number marked a 6% increase from October’s $432.2 million. On yearly basis, the trading volumes jumped 32.7%.

The platform saw forex trading volume of $138 billion in November, registering a 7.9% rise compared to previous month’s $127.9 billion. The numbers also surged 39% compared to November 2021.

Saxo Bank

The average daily volume (ADV) in forex instruments stood at $6.3 billion. The figure was 3.3% higher on monthly basis and registered a 40% increase compared to November last year.

The brokerage firm reported that demand in Equities continued its upward trajectory. The volume in November was $278.9 billion, gaining 8.7% compared to October. On yearly basis, the asset class registered a surge of 78.6%.

Fixed income instruments brought in $9.4 million, falling 17.5% compared to the previous month. The demand for commodities declined 11.8% on monthly basis.

Earlier in November, Saxo announced the appointment of Simon Camilleri as Chief Operating Officer and board member of its subsidiary, Saxo UK Limited.

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