Saxo Bank's Forex Volume Picks Up in April and Registers 16.6% MoM Growth

Saxo Bank, a leading electronic trading and investment provider, saw its forex trading volume pick up in April after hitting the lowest monthly volume since 2016 in March. 

The monthly volume of forex instruments for April was $99.3 billion compared to $85.1 billion (-7.9% MoM, -45.3% YoY) reported in March. The average daily volume (ADV) of forex also rose to $4.5 billion in April from $4.1 billion in March and $4.4 billion in February.

The forex volume of $99.3 billion for the month represented an increase of over 16.6% MoM, however, a decrease of 3.4% on a YoY basis.

The monthly trading volume of equities on Saxo Bank amounted to $303.7 billion in April, up 27% MoM and a significant 74% YoY. Commodities volume for the month also increased to $70.7 billion from the previous month’s $44.1 billion. However, fixed income volume declined to $9 billion from $9.3 billion.

In April, Saxo Bank registered a total monthly volume of $482.7 billion, an increase of 27.8% MoM and 52.4% YoY.

As reported last month, Saxo Bank is looking for a possible sale with a potential valuation between $1.6 billion and $2.1 billion.