Copenhagen's Saxo Bank has published its group financial results for the month of January in 2022, showing an overall increase in its trading volumes.
According to the latest figures, the total trading volume for the month came in $438 billion, increasing 21% on a month-to-month basis from December's $361.1 billion. Additionally, the total average daily volume in January was $20.9 billion, which was higher than December's $15.7 billion.
Saxo Bank reported that the average daily volume for forex trading in January was $5.2 billion and total FX trading volume for the month came in at $108.3 billion. That was a month-over-month increase of more than 13% compared to last month's $95.7 billion.
Moreover, commodities and equities markets also saw an increase in demand, bringing a total of $30.2 billion and $291.7 billion in monthly volumes, respectively. In addition, fixed income market demand increased from the previous month's $6.8 billion to $7.8 billion.
Last month, Saxo Bank has introduced fractional amounts and extended hours for Index CFDs in a move to enable users to fine-tune their exposure and gain more trading flexibility and control.
The new functionality has been added to the trading platform since the beginning of the year, thus allowing customers to trade CFD Index trackers with fractional amounts as low as 0.01 contracts.