Saxo Bank’s Volume Drops for Third Consecutive Month to $311.8B

Mar 29, 2023

The total monthly volume stood at $421.6 billion in May.

Saxo Bank Japan stops support for MetaTrader4 on Sunday.

Saxo Bank, a Denmark-based forex and CFD trading services provider, reported the third month of consecutive shrinkage in its total monthly volume in August.

Total volumes from its market activities in commodities, equities, fixed income and forex contracted to $311.8 billion last month.

Finance Magnates’ analysis of monthly basic key figures for August released by the broker shows that the monthly volume stood at $421.6 billion as of May.

However, the volume dropped to $398.8 billion in June and declined to $322 billion in July before worsening to $311.8 billion last month.

When compared to the same months in 2021, this year’s performance is much better in terms of the value of the volumes generated.

For example, the total monthly volume of $311.8 billion generated in August 2022 is an 18% increase from the $264.9 billion generated in the same month last year.

Saxo’s Forex Market

In August, Saxo Bank’s forex daily average volume (ADV) came in at 4.8 billion, which is a drop of 13% from the preceding month’s $5.5 billion.

The total monthly volume in the forex market dropped 5.1% to $109.8 billion in August. In July, the volume reached $115.9 billion.

Compared to 2021, Saxo Bank’s forex ADV in August rose 9% from $4.4 billion and total monthly volume surged 13% from $96.8 billion.

End of MT4 in Saxo Bank Japan?

MetaTrader4, which was introduced in 2005, is the leading platform for the trading of forex among retail investors.

In early August, Saxo Bank announced that it will terminate support for MT4 under its Japanese subsidiary on September 4 (Sunday).

"We have decided to terminate the use of MT4 except for some customers on September 4, 2022 (Sunday) as the last day. We would like to express our sincere gratitude to our customers who have used Saxo Bank Securities MT4 so far,” the Bank said.

Meanwhile, the bank recently announced that it has introduced fractional stock index CFD trading for its Japanese trader clients.

The broker said the move is targeted at lowering the trading barrier for retail traders.

Additionally, Saxo Bank promoted Ronni Bollerup Butler, its former Senior Product Specialist, in early August to lead its electronic trading and related services team.

Comment (0)

Post Your Comment

Most Popular

Powell suggests further rate hikes if necessary.

Nov 02, 2023
375

Newsletter Subscription

Subscribe to our daily newsletter and get the best forex trading information and markets status updates

Stay With Us

Currency Exchange

AMOUNT

FROM

RESULT

1.00 USD = 0.67 GBP

Saxo Bank’s Volume Drops for Third Consecutive Month to $311.8B

Tags:

Comment (0)

Post Your Comment

Most Popular

Powell suggests further rate hikes if necessary.

The Dallas Fed Manufacturing Index surpassed the predictions made by financial analysts.

RBNZ Governor Orr Causes Decline of the Kiwi in Asia Market News

BitMEX Renews AC Milan Deal, Expands Partnership

Tags

Newsletter Subscription

Stay With Us

Currency Exchange

Instant account opening & funding

Instruments

Managing Your Funds

Trading Accounts

Partnership

Education

Trading Tool

Market News

About Us

Media Center

Support

Downloads

Trading Platforms

Overview

cTrader

MetaTrader5

AdvanTrade

Overview

Instruments

Managing Your Funds

Trading Accounts

Forex Trading

Affiliates

Introducing Broker

Refer a Friend

Partnership

Education

Trading Tool

Market News

Online Trading Tool

About Us

Media Center

About Us

Support

Downloads

Service

Customer Support

Saxo Bank’s Volume Drops for Third Consecutive Month to $311.8B

Tags:

Comment (0)

Post Your Comment

Most Popular

Powell suggests further rate hikes if necessary.

The Dallas Fed Manufacturing Index surpassed the predictions made by financial analysts.

RBNZ Governor Orr Causes Decline of the Kiwi in Asia Market News

BitMEX Renews AC Milan Deal, Expands Partnership

Tags

Newsletter Subscription

Stay With Us

Currency Exchange

Instant account opening & funding