After trading volumes declined in the last two months of 2023, Copenhagen-based Saxo Bank Retail FX and CFDs saw sluggish activity continue in 2024, with trading volumes in January totaling $375.5 billion (vs. monthly average of $399 billion in 2023 at Saxo). .
Sales volumes at Saxo were up slightly (up 1.6%) from December (a typically slow month), but remained well below the $400 billion+ figures generated by Saxo during most of the mid to late 2023.
Saxo Bank saw a 21% drop in its core forex trading volume in January to $106.7 billion, but this was offset by a 14% increase in equity trading to $219.7 billion.
Client trading volumes at Saxo Bank in January 2024 were as follows:
- FX trading fell 21% MoM to $106.7 billion.
- Shares rose 14% to $219.7 billion.
- Merchandise rose 24% to $39.3 billion.
- Fixed income trading fell 5% to $9.8 billion.
Saxo Bank is controlled by Chinese conglomerate Geely.