Saxo Bank Reports 4% MoM Increase in FX Trading Volume in February 2022

Copenhagen's Saxo Bank has published its group financial results for the month of February in 2022, showing an overall decline in its trading volumes.

According to the latest figures, the total trading volume for the month came in $419.1 billion, decreasing 4% on a month-to-month basis from January's $438 billion. Additionally, the total average daily volume in February was $21 billion, which was higher than January's $20.9 billion.

Saxo Bank reported that the average daily volume for forex trading in February was $5.6 billion and total FX trading volume for the month came in at $112.7 billion. That was a month-over-month increase of more than 4% compared to last month's $108.3 billion.

Moreover, commodities and fixed income markets also saw an increase in demand, bringing a total of $43.9 billion and $10.8 billion in monthly volumes, respectively. In addition, equities market demand decreased from the previous month's $291.7 billion to $251.7 billion.

Last month, Saxo Bank reported a net profit of DKK 755 million for 2021 compared to DKK 750 million for 2020. Total revenue for the Group amounted to DKK 4,527 million in 2021 compared to DKK 4,324 million in 2020. EBITDA remained at DKK 1,617 million.