After posting its lowest forex volume since December 2021 in April, Saxo Bank saw a 27% recovery in May with monthly volume reaching $130.5 billion. The Copenhagen-based retail FX and CFDs brokerage disclosed these figures in its trading metrics for April released on Wednesday.

According to Saxo Bank, the new monthly volume came with a daily average of $5.7 billion, representing a gain of 12% over the prior month. However, while the new volume surpasses $102.8 billion posted in April, it fails to break above $155.5 billion from March.

Saxo Bank Volumes Jump in May

Saxo Bank’s latest forex volume follows months of steady declines in volumes with a quick rise in between. In March, Saxo Bank beat a three-month consecutive decline in its volumes, reaching $155.5 billion.

Specifically, the volume slid 12% to $121.3 billion in December, further nosediving to $115.2 billion in January and sinking even deeper by another 4% to $110.8 billion in the subsequent month.

Meanwhile, trading activities across Saxo Bank's other asset classes shot up in May. Trading volume in commodities rose 19% to $40.7 billion, equities escalated 31% to $228.2 billion and fixed income climbed 12% to $7.6 billion.

Overall, trading volume strengthened 28% to $407 billion in May, rising from $318.78 billion in the prior month. In the same vein, the average daily volume increased 11% to $17.7 billion, beating April’s $15.9 billion.

Saxo Bank Marks Historic Milestone

Saxo Bank’s new forex volume comes at a time of strong financial performance. Late last month, the company disclosed that its client assets have surpassed $100 billion, rising five-fold within five years. The Danish investment bank and global financial services provider attributed the growth to its distinctive strategy of promptly transferring the advantages of central bank rate hikes to its customers.

However, Saxo Bank, which offers platforms for online trading in stocks, bonds, currencies, and derivatives, was recently flagged by Australia’s securities regulator for deficiencies in its target market determinations (TMDs) for some contracts for difference offerings. Finance Magnates reported that Saxo quickly amended the TMDs to address the financial watchdog’s concerns, and the orders were revoked.

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