Saxo Bank, the Denmark-based group which combines the roles of a Forex broker and a bank, earlier today posted its operating metrics for July 2015, with trading volumes down in monthly and annual terms, but client deposits registering a rise.
Monthly Forex volumes amounted to $181 billion in July 2015, down 24.9% from the $241 billion in turnover recorded in June 2015 and down 15.8% from the $215 billion in trading volumes seen in July 2014.
Average daily volumes amounted to $7.9 billion in July 2015, down 28% from June 2015 levels and down 19.4% from July 2014 levels.
The results could be attributed to a combination of the summer, which is generally slow for Forex trading, and very low currency volatility in July, e.g. the EUR/USD trading in a fairly tight 1.09-1.11 band during most of the month.
On the brighter side, client deposits rose in both annual and monthly terms, reaching $11.45 billion, pretty close to the record achievement from May 2015, when deposits totaled $11.46 billion.
To learn more details about Saxo Bank’s performance, visit the corporate transparency page.