Danish retail FX stalwart Saxo Bank has today announced its monthly trading metrics for the month of August 2014, which demonstrate a 1% decline in monthly total volume to $212 billion compared to the $215 billion achieved in July this year, which itself was among the lowest monthly volume totals for the company this year so far, and indeed since 2012.
Whilst the total monthly volume declined very slightly, average daily volumes increased very slightly from July’s $9.8 billion to $10.1 billion in August.
Despite the stagnation of trading volumes, an important factor which is apparent in the figures reported for August is that customer confidence in the company is extremely high, with Saxo Bank having attracted the highest ever total amount of deposits, which totaled $10 billion.
In the retail FX business, there is never a time for companies to rest on their laurels, however Saxo Bank can be confident that its future is secure as customers continue to invest, which in a time of low volatility and dramatically reduced trading activity worldwide, is a positive dynamic indeed.
Click here for Saxo Bank’s full volume metrics.