Saxo Bank Saw 17% MoM Decline in FX Trading Volume in April 2022

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

According to the latest figures, the total trading volume for the month came in $342.6 billion, decreasing 25.6% on a month-to-month basis from March's $460.4 billion. Additionally, the total average daily volume in April was $15.6 billion, which was lower than March's $20 billion.

Fazzaco Live Webinar on 12th May: Vladimir Moshkov on How to Start a Crypto Exchange from Scratch

Saxo Bank reported that the average daily volume for forex trading in April was $5.7 billion and total FX trading volume for the month came in at $126.2 billion. That was a month-over-month decrease of more than 17% compared to last month's $152.2 billion.

Moreover, commodities and fixed income markets also saw an decline in demand, bringing a total of $38.6 billion and $8.6 billion in monthly volumes, respectively. In addition, equities market demand decreased from the previous month's $231.7 billion to $169.1 billion.

Last month, Saxo Bank has told its Russian and Belarusian clients that their services will be terminated. The latest sanctions on Russia and Belarus, according to the financial services provider, are the key reasons for the shutdown of services in both nations.