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

Started by forex4you, Sep 06, 2022, 04:36 pm

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

<p>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.</p><p>Total volumes from its market activities
in commodities, equities, fixed income and forex contracted to $311.8 billion
last month.</p><p>Finance Magnates' analysis of monthly
basic key figures for August <a href="">released by the broker </a> shows that the monthly volume stood at $421.6 billion as of May.</p><p>However, the volume dropped to $398.8
billion in June and declined to <a href="">$322 billion in July</a>
before worsening to $311.8 billion last month.</p><p>When compared to the same months in 2021, this year's performance is much better in terms of the value of the volumes generated.</p><p>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.</p><p>Saxo's Forex Market</p><p>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.</p><p>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.</p><p>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.</p><p>End of MT4 in Saxo Bank Japan?</p><p>MetaTrader4, which was introduced in 2005,
is the leading platform for the trading of forex among retail investors. </p><p>In early August, Saxo Bank announced that
it will <a href="">terminate support for MT4</a>
under its Japanese subsidiary on September 4 (Sunday).</p><p>"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.</p><p>Meanwhile, the bank recently announced
that it <a href="">has introduced</a>
fractional stock index CFD trading for its
Japanese trader clients. </p><p>The broker said the move is targeted at
lowering the trading barrier for retail traders.</p><p>Additionally, Saxo Bank <a href="">promoted Ronni Bollerup
Butler</a>, its former Senior Product Specialist,  in early August to
lead its electronic trading and related services team.</p>

This article was written by Solomon Oladipupo at

Source: Saxo Bank's Volume Drops for Third Consecutive Month to $311.8B
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