Saxo Bank reports another strong month with October Forex volumes at $266 billion


saxo bank office

Copenhagen-based multi-asset broker Saxo Bank has reported another strong month, with October FX trading volumes coming in at $266 billion, flat month-over-month from September’s $266 billion figure. Average daily volumes were actually slightly up over September, at $12.6 billion ADV versus $12.1 billion.

September was Saxo Bank’s best trading volumes month in nearly two years.

Clients’ collateral deposits for trading were slightly lower, down to $13.01 billion from $13.17 billion in September.

Saxo Bank’s strong October results are fairly impressive given what we have seen elsewhere at leading Retail Forex brokers. Gain Capital Holdings Inc (NYSE:GCAP) retail unit Forex.com saw its lowest trading volumes since 2013 during October. Exness reported volumes off 4% in the month.

And, we believe that November will see a significant improvement in volumes at Saxo Bank and in the industry generally, thanks to the post-US election volatility in currency and equity markets. Institutional eFX venues Hotspot FX and FastMatch had one of their best days (and weeks) ever following the election and Trump’s surprise victory.

saxo-bank-volumes-october2016

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Saxo Bank reports another strong month with October Forex volumes at $266 billion

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