Saxo Bank Posts Best FX Volumes in March Since 2018

As more and more strong monthly trading volumes for March pour in for brokers, exchanges and trading platforms, multi-asset brokerage Saxo Bank has joined the ranks by reporting strong foreign exchange (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) and equities trading volumes.

For the month of March, Saxo Bank recorded a total monthly volume of $496.8 billion and a daily average of $22.6 billion, driven by market Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, or stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Trad Read this Term caused by the coronavirus pandemic. When measuring March’s monthly volume against the previous month, which was $314.7 billion, volumes have increased by 57.9 percent.

Comparing last month’s total trading volume against the corresponding period of the previous year, which had a total monthly volume of $251.9 billion, last month’s volume has jumped by 97.2 percent year-on-year. The total monthly volume is the strongest Saxo Bank has achieved since March of 2018.

Saxo Bank posts best FX volumes in years

Taking a look at the total monthly foreign exchange (forex) volume, the broker has achieved a solid monthly uptick. Coming in at $248.6 billion in March, volumes have grown by 72.8 percent month-on-month. March’s total FX volume is the best result Saxo Bank has posted since June of 2018.

The total trading volume for equities in March also managed to achieve a strong uptick from the previous month, rising from $119.9 billion in February of 2020 to reach $182.6 billion. This translates to a growth of 52.3 percent. Against March of 2019, volumes have jumped significantly by 213.7 percent.

Fixed-income trading also did well in March, with the monthly volume coming in at $22.6 billion. Against February, volumes are higher by around 65.0 percent, and they have risen by 143.0 percent on a yearly comparison.

Wrapping up the analysis is the trading volume for commodities, which was $43.1 billion in March of 2020. Weighing this against the previous month, volumes have increased by 15.5 percent. They have also surged by 74.5 percent on a yearly measurement.