Saxo Bank Posts MoM Uptick in FX Volumes for February 2020

Saxo Bank Group, a leading multi-asset brokerage, has published its trading volumes for the month of February, revealing an MoM uptick across all key segments, including foreign exchange (FX).

Saxo Bank saw a total trading volume of $302.4 billion in February, representing an increase of 7.3 percent compared to the previous month's $281.8 billion, while a decline of 3.9 percent in comparison with the figure of $314.7 billion in February 2020.

In terms of the individual asset classes, the monthly forex volumes of the Danish brokerage came in at $119.8 billion with a marginal 1.4 percent MoM jump in comparison with the $118.2 billion of the previous month. However, compared to the previous year's volumes of $143.9 billion, the figure reflected a massive drop of 16.7 percent. 

The daily forex volumes on Saxo rose 1.7% to $6 billion from the prior month's $5.9 billion in February, while in the same month of the previous year it was $7.2 billion.

In February, other asset class instruments Saxo offers also witnessed a slight MoM rise in their monthly trading demand. The monthly volume for commodities instruments surged to $37.0 billion and fixed volume instruments to $8.0 billion. In January, the trading volumes of these two asset classes were $32.7 billion and $7.7 billion, respectively.