Saxo Bank Reports a Continuous Dip in Total Trading Volume in February 2023

Saxo Bank, a Copenhagen-based retail FX and CFDs broker, unveiled an ongoing decline in its total trading volume for February 2023. The figure dropped 4.2 percent from the prior month’s $375.6 billion to $359.8 billion, and slumped 14 percent on a yearly basis.

Regarding the total daily average trading volume, the figure rose to $18 billion from January's $17.1 billion, as a result of a shorter month.

Monthly volume with currency pairs recorded $110.8 billion in February, $115.2 billion lower over that of the prior month. The volume for equities instruments remained the highest, of $208 billion. However, the figure dropped 5.3 percent on a monthly basis and over 17 percent on a yearly basis.

The volume for commodities and fixed-income instruments for the month stood at $32.9 billion and $8 billion, respectively, both showing a monthly increase.

In January​, Saxo Bank’ total trading volume declined 9.6 percent compared to the prior month and approximately 14.3 percent from the first month of 2022.