Saxo Bank FX Volume Recovers in April, Equities Hit Record

Saxo Bank sees FX volume rebound in April while equities hit record highs. Explore the latest market trends.

Key Points

• Saxo Bank saw a significant rebound in forex trading volumes in April, reaching $99.3 billion, marking a 16.6 percent increase from the previous month.
• Equities trading surged to a record high of $303.7 billion in April, representing a 27 percent increase from the previous month and a 74 percent increase year-over-year.
• The collective surge in equities and forex trading led to an overall monthly volume of $482.7 billion on Saxo Bank‘s platform, reflecting a robust increase of 27.8 percent month over month and 52.4 percent year over year.

After a month of sluggish performance, Saxo Bank, a prominent brokerage headquartered in Denmark, witnessed a resurgence in demand for foreign exchange (forex) instruments in April. Despite the recovery, forex volumes remain subdued compared to previous years. Concurrently, the platform experienced an unprecedented surge in equities trading, reaching a record high.

In April, the monthly volume of forex instruments on Saxo Bank’s platform totaled $99.3 billion, marking a notable rebound from the previous month’s low of $85.1 billion. This resurgence reflects a 16.6 percent increase month-over-month, although there was a marginal decline of 3.4 percent every year. Despite the recovery, the latest figures remain below the levels seen in previous years.

The daily average volume in forex trading also improved, rising to $4.5 billion, compared to $4.1 billion in March and $4.4 billion in February.

Saxo Bank FX Volume Recovers in April, Equities Hit Record

Conversely, the demand for equities experienced a substantial upsurge, reaching an all-time high of $303.7 billion in monthly volume. This represents a remarkable increase of approximately 27 percent from the previous month and a staggering 74 percent surge year-over-year. The daily average volume in equities trading also saw a significant uptick, reaching $13.8 billion in April compared to $11.4 billion in March 2024 and $8.7 billion in April 2023.

Saxo Bank, originally established as a brokerage in 1992 and rebranded in 2001 after obtaining a banking license, offers a wide range of trading services encompassing forex, equities, commodities, and fixed-income instruments. Additionally, the platform offers contracts for different (CFDs) instruments for cryptocurrencies in select markets across the Asia-Pacific region, although it does not publicly disclose these volumes.

In April, the monthly demand for commodities on the platform also showed improvement, rising to $70.7 billion from $44.1 billion in the previous month. However, fixed-income trading volume slightly declined to $9 billion from $9.3 billion.

The collective surge in equities and forex trading contributed to an overall monthly volume of $482.7 billion on Saxo Bank‘s platform, representing a robust increase of 27.8 percent month-over-month and 52.4 percent year-over-year.

Amidst these developments, Saxo Bank is reportedly exploring options to sell a minority or majority stake, with a valuation ranging between EUR 1.5 billion and EUR 2 billion. The Danish brokerage’s earlier attempts to go public through an SPAC deal were unsuccessful.

Saxo Bank continues to navigate the evolving landscape of global financial markets, adapting to changing trends and exploring strategic opportunities to drive growth and innovation within the industry.

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