Saxo Bank Sees 21% MoM Jump in January Trading Volumes

Saxo Bank has released its trading metrics for January 2022, reporting a solid monthly and yearly jump in demand. The total monthly volume on the platform in the month came in at $438 billion, with a daily average of $20.9 billion.

That was an increase of more than 21 percent from the trading volume of December, whereas the figure jumped almost 55.5 percent year-over-year. The daily average increased by 33.1 percent and 48.2 percent on a monthly and yearly basis, respectively.

The upward drag of the total volume resulted from increased demand for all asset classes offered by the Danish trading platform. The monthly forex trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term volume in January came in at $108.3 billion, which is 13.1 percent higher than the previous month. However, the latest forex volume came down by almost 8.4 percent from January 2021.

The daily average FX volume for last month came in at $5.2 billion, while it was at $4.2 billion in the prior month and $5.9 billion in January of the previous year.

Record Equities Trading

The total trading volume on the platform was mostly dragged upward by the increased demand for equities. The total monthly volume with equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term products came in at $291.7 billion, compared to $233 billion in December 2021 and only $123.2 billion in January 2021.

Moreover, commodities and fixed income products witnessed monthly upticks by almost 18 percent and 15 percent, respectively. However, the absolute total volume in these two markets remained significantly lower when compared to forex and equities.

Furthermore, with headquarters in Denmark, Saxo offers cryptocurrency derivatives products to its clients in Singapore and Australia. Though it does not disclose crypto market figures on a monthly basis, demand in the market is high, and the platform generated $2.5 billion in turnover from May until October.