Saxo Bank Closes March with 35% Higher FX Trading Volume

Saxo Bank has reported a total monthly trading volume of $460.4 billion for March, which is the highest since April 2020. With the latest numbers, the broker closed the first quarter of 2021 with a significant surge in demand for retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term services.

The overall trading volume in March jumped by more than 9.8 percent when compared to the previous month. And, the jump in trading activities was 17 percent on a year-over-year basis.

Additionally, the overall daily average volume strengthened to $17.1 billion from the previous month’s $15.1 billion.

Forex Demand Skyrockets

Foreign exchange (forex) trading pairs, which is one of Saxo’s top offerings to retail traders, were traded for $152.2 billion in volume. It was 35 percent higher than the previous month’s volume, but around 10.7 percent lower than the trading volume of March 2021.

The daily average for forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term instruments came in at $6.6 billion, which is up from the previous month’s $5.6 billion.

Coming to the equities offering, the trading demand with the instrument fell last month. The total trading volume with equities trading instruments came in at $231.7 billion. Demand for equities trading on Saxo saw a downfall in two consecutive months now, 8 percent from February and over 20.5 percent from January.

Commodities trading demand again surged to $67.6 billion from the previous month’s $43.9 billion, whereas trading volume with fixed income dropped by 18.5 percent.

Earlier this year, Saxo released its yearly financials for 2021, reporting a marginal increase in revenue, but presenting flat profits. Meanwhile, the client number on the trading platform jumped by 19 percent.

Other retail trading platforms have also witnessed a massive jump in client activities over the past few months. Exness, which has operations in Europe and other emerging markets, closed in March with $2.48 billion in trading volume.