Saxo Bank’s daily Forex volumes drop 37.5% MoM in Feb’15

Saxo Bank, the Danish company that combines the roles of a retail Forex broker and a bank, earlier today posted its operating metrics for February 2015, with results lagging behind the robust performance seen in the start of the new year.

Average daily Forex volumes at Saxo amounted to USD 9 billion in February 2015, which marks a decline of 37.5% against the result of USD 14.4 billion recorded in January 2015.

We have to note that January was a very solid month for Saxo in terms of trading activity, witnessing a 15% month-on-month rise in trading volumes against December 2014. So it is normal to see the monthly comparison somewhat tilted in favor of January. Then there is (of course) the psychological factor that comes into play every year, as the traditional January enthusiasm wanes.

Another reason for the drop is something we have been seeing across the retail Forex industry lately – the effect of the enhanced risk management policy, especially cutting leverage on certain instruments, on trading activity. In this respect, Saxo’s February metrics are in tune with what we witness across the broader retail Forex industry – lower February volumes.

Let’s mention a couple of other performance metrics and comparisons.

  • The average daily monthly volumes in February 2015 fell by 31% from the USD 13.2 billion mark reached in February 2014.
  • Monthly trading volumes for February 2015 were USD 179 billion, down by 40.7% month-on-month and down by 32.2% year-on-year.
  • On the brighter side, client deposits increased markedly. In February 2015 they amounted to USD 11.09 billion, up by nearly 6% from January levels and marking a marginal rise against the level recorded in December 2014.
  • In DKK currency terms, client deposits surged to record high in February 2015 , amounting to DKK 73.9 billion.
  • The count of new funded clients increased 24% for Jan-Feb 2015 compared to the same period last year. New funded clients have increased 34% for average of Jan-Feb 2015 compared to average of all 2014.

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To view the detailed operating metrics of Saxo Bank, visit the corporate Transparency page.

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