Saxo Bank Sees Its Lowest Trading Volumes in Five Years

Saxo Bank, Copenhagen based Retail FX and CFDs broker, has released its trading statistics for May,  indicating that the company saw its lowest FX trading volumes in (at least) five years.

Dating back to the beginning of 2016, Saxo’s lowest reported FX trading volumes for a full month was in November 2019 at $107.4 billion. May 2021 “topped” that, at just $104.3 billion.

The daily average trading volume with forex pairs for last month was $5 billion, 10.7 percent down month-over-month and 34.2 percent lower year-over-year.

Overall, thanks again to the strong Equity trading figures, multi-asset volumes for the month of May were up 7% MoM as compared to April 2021 at Saxo Bank, $298.6 billion versus $279.5 billion. By product:

FX – May volumes $104.3 billion, -16% MoM

Equities – $141.9 billion, +24%

Commodities – $43.3 billion, +37%

Fixed Income – $9.0 billion, -4%

Fazzaco earlier reported Saxo Bank announced it is introducing a 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.