Saxo Bank, a well-known brand in the retail trading space, released its monthly metrics for August, revealing a drop in monthly forex trading volume to $112.3 billion from the previous month’s $112.9 billion. The daily average volume also dropped to $4.9 billion from $5.4 billion, which is a decline of 9.2 percent.

Flat FX Demand on Saxo

The timid demand was expected due to the impact of the summer holidays on the trading demand. A similar trend can be seen across other trading venues, retail or institutional, as well. Since January, FX trading topped in March with a monthly volume of $155.6 billion.

Year-over-over, the latest demand in August strengthened. Saxo handled $109.8 billion in 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 in August 2022, meaning the latest figures increased by a marginal 2.2 percent.

Saxo Bank is headquartered in Denmark and has a global presence, especially in Asia-Pacific. Apart from forex, its reported offerings include 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, commodities, and fixed income. It further offers crypto CFDs in specific markets, but those numbers are not reported on a regular basis.

Earlier this year, Denmark’s financial markets supervisor demanded that Saxo Bank dump its cryptocurrency holdings. Saxo additionally obtained the status of a Systemically Important Financial Institution (SIFI) in Denmark, meaning it is subjected to stringent capital requirements.

Equities Soar High

The demand for equities topped again in August with a monthly volume of $295.8 billion. It even increased from $222.1 billion in trading volume generated in July. The daily average with equities instruments was recorded at $12.9 billion, which is also higher from the $10.6 billion seen in July.

On top of that, commodities demand improved to $37.9 billion from $29.6 billion, while the volumes with fixed-income instruments rose to $7.8 billion from $7.3 billion.

Despite the flat FX demand, the volumes of other asset classes, especially equities, pushed the total monthly volume on Saxo to $453.7 billion, which is an increase of about 22 percent month-over-month and 40.5 percent year-over-year.