Copenhagen based Retail FX and CFDs broker Saxo Bank reported its best month in over four years trading volume-wise in April 2024, led by record levels of client trading activity in both Equities and Commodities.
Total multi-asset volumes at Saxo Bank were up 28% MoM to $482.7 billion in April – as noted above Saxo’s best result since March 2020 ($496.9 billion). Leading the charge was Equities trading, at $303.7 billion up 27% from the previous month and representing 63% of total trading activity at Saxo during April. Hot commodity markets also led to record Commodities trading volumes of $70.7 billion, up a whopping 60% MoM.
The increased trading activity comes at a very good time for Saxo Bank, which is trying to find a buyer for the company.
Client trading volumes at Saxo Bank in April 2024 were as follows:
- FX trading up 17% MoM to $99.3 billion.
- Equities up 27% to $303.7 billion.
- Commodities up 60% to $70.7 billion.
- Fixed income trading down 3% to $9.0 billion.
Saxo Bank is controlled by China’s Geely Group.
Read More: Saxo Bank volumes rebound in April 2024 led by record Equities and Commodities