Saxo Bank reports 34% drop in FX volume in April

Steffy Bogdanova
May 4, 2023 9:11 am

Saxo Bank has released its trading results for April 2023. The Denmark-headquartered financial services provider registered decrease in trading volumes across almost all asset classes last month.

Last month’s total trading volume stood at $318.7 million. The number fell 7% from March’s $482.1 million. On yearly basis, the figure was 4.7% higher.

The platform saw forex trading volume of $102.8 billion in April, registering a 33.9% drop from previous month’s $155.6 billion and 18.5% decrease from the same period in 2022.

Saxo Bank

The average daily volume (ADV) in forex instruments stood at $5.1 billion. The figure dropped 25% on monthly basis and 10.5% on yearly.

The brokerage firm reported that demand in Equities also registered fell. The volume in April was $174.7 billion, 32.8% lower compared to March. However, on yearly basis, the asset class rose 3.3%.

Fixed income instruments brought in $6.8 million, dropping 69.6% compared to the previous month. The demand for commodities was also lower by 22.4% on monthly basis at $34.3 million.

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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