Saxo Bank has released its trading results for February 2023. The Denmark-headquartered financial services provider registered a small monthly, as well as yearly decline in its trading volumes.
Last month’s total trading volume stood at $359.8 million. The number marked a 4% decrease from January’s $375.6 million. On yearly basis, the figure was 14% lower.
The platform saw forex trading volume of $110.8 billion in February, registering a 3.8% drop compared to previous month’s $115.2 billion and 1.7% fall from February 2022.
The average daily volume (ADV) in forex instruments stood at $5.5 billion. The figure grew 5.8% on monthly basis but was 1.8% lower than the previous year,
The brokerage firm reported that demand in Equities also fell. The volume in February was $208 billion, falling 5.3% compared to January. On yearly basis, the asset class dropped 17.4%.
Fixed income instruments brought in $8 million, up by 1.3% compared to the previous month. The demand for commodities rose 0.3% on monthly basis at $32.9 million.
Last week, the online trading and investment specialist released its annual financial records for 2022, reporting 5.8% drop in profits to DKK 711 million, but a 7% rise in clients.
