Saxo Bank's April FX Trading Volume Slides 34% MoM to $319B

Saxo Bank, the online trading and investment specialist, has experienced the slowest month in April so far 2023, with the trading volume of all its asset groups seeing double-digit percent drops.

The total client trading volumes at the brokerage in the month fell 34% from March’s $482.1 billion to $318.7 billion.

Specifically, FX trading volume declined to its lowest level since 2021, at $102.8 billion, down 34% compared to the prior month. Equities trading volume stood at $174.7 billion, decreasing 33% on a monthly basis, in addition to 22% drop in Commodities. Further, fixed income trading plummeted 70% to $6.8 billion.

Last month, Fazzaco reported that Saxo Bank registered the total trading volume for March at $482.1 billion​, increasing 34% on a month-to-month basis from February’s $359.8 billion. Additionally, the total average daily volume in March was $21 billion, which was nearly 16.7% higher than last month's $18 billion.