Copenhagen-based Retail FX and CFDs broker Saxo Bank closed 2023 on a positive note, posting a 2% month-on-month increase in client trading volume in December 2023, driven by strong core FX trading activity.
Forex trading volumes for December reached $134.8 billion at Saxo Bank – its highest level since March. This more than offset a slight decline in trading across Saxo Bank’s other asset classes, resulting in overall activity up 2% to $369.5 billion for the month.
For all of 2023, Saxo Bank averaged $399.4 billion in monthly client trading volume, down slightly by 1.5% from $405.4 billion in 2022.
Client trading volumes at Saxo Bank in December 2023 were as follows:
- FX trading rose 14% MoM to $134.8 billion.
- Shares fell 3% to $192.8 billion.
- Merchandise fell 11% to $31.6 billion.
- Fixed income trading fell 3% to $10.3 billion.
Saxo Bank is controlled by Chinese conglomerate Geely.