Copenhagen-based Retail FX and CFDs broker Saxo Bank posted its best month in four years for trading volume in April 2024, driven by record client trading levels in both equities and commodities.
Total multi-asset volumes at Saxo Bank rose 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 equity trading, at $303.7 billion, up 27% from the previous month and representing 63% of total trading activity on Saxo in April. Hot commodity markets also led to a record Commodities trade of $70.7 billion, up 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 rose 17% MoM to $99.3 billion.
- Shares rose 27% to $303.7 billion.
- Merchandise rose 60% to $70.7 billion.
- Fixed income trading fell 3% to $9.0 billion.
Saxo Bank is controlled by Chinese conglomerate Geely.