Saxo Bank Sees 27.1% MoM FX Volume Dip in April 2021

Fazzaco learned that Saxo Bank, a leading multi-asset trading and investment provider, has published its client trading volumes for the month of April, revealing a month on month decline.

According to the statistics, the Forex trading volume of the Danish broker declined by 27.1 percent to $124.2 billion in April compared to the previous month's trading volume of $170.5 billion. For April, the average daily volume (ADV) stood at $5.6 million, which is down by 24.3 percent compared to March's $7.4 million.

Saxo Bank saw a sharp decline in trading activity across most of its traded product groups in April. In the equities division, the monthly trading volume fell by 35 percent month-over-month to $114.2 billion. The ADV in equities stood at $5.2 million in April, compared to March's $7.6 million. Demand in commodities trading fell to $31.6 billion from March's $38.8 billion. However, in the fixed income segment, the monthly trading volume jumped to $9.4 billion in April from the previous month's $8.3 billion. 

With mostly dull markets, the overall trading demand on Saxo declined sharply by almost 29 percent to $279.5 billion in April compared to the previous month.

Fazzaco recently reported that Saxo Bank has introduced a new theme basket focusing on crypto and blockchain companies. This basket offers exposure to investors who want to trade cryptocurrencies but do not want to own physical cryptocurrencies. Additionally, the company published its client trading volumes for March 2021​ earlier last month. The client trading of the platform totaled $393.4 billion in March, representing a 30.1% jump compared to the $302.4 billion in the prior month.