Monthly stats remain on track for an optimistic start to the year at the Danish brokerage
Volumes at leading Danish brokerage Saxo Bank have been released for the month of February and the number is out at $264 billion. That’s a substantial decline of 13% from the month of January, yet it is not unexpected since activity on the forex market has been quite subdued in the second part of the month and last month’s volumes have jumped up sharply by 30%. As we kick off trading in March, volatility is spiking higher in light of recent geopolitical tensions which could spell higher volumes.
Overall, the recovery theme remains on track during the shortest month of the year. While average daily figures have contracted somewhat from $13.8 to $13.2 billion, we are still holding way above previous 6 months average around $11 billion. On a positive note for future months, growth in collateral deposits amounted to 7% totaling to $8.67 billion. The company’s recent addition of their own TradingFloor social trading platform could also contribute to extensive growth.
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