Saxo Bank concludes 2023 with record volumes, surpasses 1 million active accounts, and achieves DKK 721 billion in managed client assets.
After celebrating $100 billion in client assets last year, forex broker Saxo Bank concluded the year 2023 by publishing a robust total monthly FX volume of $135 billion in December, as this represented an increase from November's total count by 13.4% and an 11% surge compared to December 2022's $121 billion.
Despite stocks and commodities businesses remaining relatively flat, the average daily volume throughout this FCA-regulated broker's asset classes grew by $1.5 billion to $17.6 billion/day in December 2023, compared to $16.5 billion the previous month.
Classified as a Systemically Important Financial Institution (SIFI) by the DFDSA last year but securing its place in the financial system, this Danish broker fortified itself with utmost responsibility. This acknowledgment puts the bank under high scrutiny, indicating that it can influence the whole system of economics.
Significantly, this multi-asset broker accomplished a remarkable feat by breaking through the 1 million mark of total active accounts for the first time in its more than three decades of existence.
It also had a remarkable expansion of managed client assets, which stood at DKK 721 billion compared to DKK591 billion during the preceding year. The raised amount of DKK 79 billion resulted from net funding or cash and securities.
This forex broker news reflects forex broker Saxo Bank's determination to consolidate its position. Furthermore, remarkably high trading volumes and client growth prove the strength of resilience and significance in volatile financial markets.