The FX trading volume on the platform came in at $106.1 billion.
Despite the overall drop, the average daily volume improved.
Saxo Bank, with headquarters in Denmark, reported a total trading volume of $438.3 billion in September, a drop from $453.7 billion from the previous month and a month-over-month decline of 3.4 percent. However, the daily average improved to $20.9 billion from $19.7 billion due to the lower number of trading days last month.
Demand for FX Remains Strong
The forex trading volume on the brokerage platform came in at $106.1 billion, a fall of 5.5 percent from the previous month's figures of $112.3 billion. Year-over-year, the amount curtailed by more than 27 percent.
The daily average of the FX trading last month was reported as $5.1 billion, an improvement from $4.9 million in the previous month but a decline from $6.7 billion in the same month of the previous year.
Although FX dominated Saxo's offering once, now, equities become the most significant driver of the overall trading volume. The monthly volume of equities came in at $289.1 billion, lowering 2.2 percent month-over-month but improving 16.6 percent year-over-year.
Saxo's offerings also included commodities and fixed-income instruments. The $36.7 billion monthly volume of commodities declined from the previous month's $37.9 billion. For fixed income, the figures dwindled from $7.8 billion to $6.8 billion.
Expanding Overseas Presence
In the overseas market, primarily in the Asia Pacific, Saxo offers a broader range of products, including cryptocurrency contracts for differences (CFDs). However, the Danish group does not publish the demand for those products on a monthly basis. The group is also expanding its reach in the overseas markets with partnerships.
Meanwhile, the operating profit of Saxo skyrocketed to DKK 520 million in the first half of the ongoing year, an enhancement of 34 percent. Although trading and investment activity reduced among its clients, the increased interest income offset the impact.
Saxo Bank, with headquarters in Denmark, reported a total trading volume of $438.3 billion in September, a drop from $453.7 billion from the previous month and a month-over-month decline of 3.4 percent. However, the daily average improved to $20.9 billion from $19.7 billion due to the lower number of trading days last month.
Demand for FX Remains Strong
The forex trading volume on the brokerage platform came in at $106.1 billion, a fall of 5.5 percent from the previous month's figures of $112.3 billion. Year-over-year, the amount curtailed by more than 27 percent.
The daily average of the FX trading last month was reported as $5.1 billion, an improvement from $4.9 million in the previous month but a decline from $6.7 billion in the same month of the previous year.
Although FX dominated Saxo's offering once, now, equities become the most significant driver of the overall trading volume. The monthly volume of equities came in at $289.1 billion, lowering 2.2 percent month-over-month but improving 16.6 percent year-over-year.
Saxo's offerings also included commodities and fixed-income instruments. The $36.7 billion monthly volume of commodities declined from the previous month's $37.9 billion. For fixed income, the figures dwindled from $7.8 billion to $6.8 billion.
Expanding Overseas Presence
In the overseas market, primarily in the Asia Pacific, Saxo offers a broader range of products, including cryptocurrency contracts for differences (CFDs). However, the Danish group does not publish the demand for those products on a monthly basis. The group is also expanding its reach in the overseas markets with partnerships.
Meanwhile, the operating profit of Saxo skyrocketed to DKK 520 million in the first half of the ongoing year, an enhancement of 34 percent. Although trading and investment activity reduced among its clients, the increased interest income offset the impact.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Prop Firm GFT Halts Live Trading Operations During U.S. Presidential Election
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
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Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24