Saxo Bank’s average daily forex volumes rose by 1.4% to $14.6 billion, but total volumes fell as there were less trading days than in May.
LeapRate has learned that leading global FX broker Saxo Bank, a member of LeapRate’s Approved List of regulated retail forex brokers, continued its strong start to 2013 during June, with average daily Forex volumes up 1.4% from May, coming in at $14.6 billion per day (or $292 billion for the month).
However, as there were just 20 trading days in June versus 23 trading days in May (just an anomaly of the calendar), total volumes at Saxo Bank actually fell in June by 12%, from $331 billion in May.
Saxo Bank’s June forex volumes are the first report we’ve seen for the month, but confirm what we’ve been told by several forex industry brokers — June was fine, but not nearly as good as might be expected given the high level of volatility seen during the month in everything from equity markets to bonds, gold, oil, and of course FX rates.
Nevertheless, Saxo Bank continues to see forex trading volumes significantly higher this year than last. Saxo Bank June figures came in 13% above last year June.
We’ll be bringing you more forex broker and ECN volume reports as we get them. Stay tuned to LeapRate….