After a continuous rise in trading demand for a few months, Saxo Bank reported a significant decrease in April.
Saxo Bank, a Danish brokerage, recorded a total trading volume across all assets in April of $279.5 billion, down from the previous month's figure of $ 393.4 billion. Saxo's overall trade demand plummets to $279.5 billion, down nearly 29 percent with a daily average of $12.7 billion.
After a continuous spike in demand during the pandemic season, Saxo Bank finally experienced a significant drop in forex trading volume.
Other Assets Also Decreased
According to the latest figures, the Denmark-based broker posted a 27.1 percent drop in forex trading volume from $170.5 billion in March to $124.2 billion in April. The average daily trading volume for April also fell to $5.6 billion from $7.4 billion in March.
A similar decline has not only occurred in forex but can also be seen in most of the other asset classes. In the equities division, monthly trading volume decreased 35 percent to $114.2 billion. The daily average in equities trading was only $5.2 billion in April, compared to the previous month which generated $7.6 billion.
Not to mention that commodity trading demand also fell to $31.6 billion from $38.8 billion. On the other hand, the fixed income segment, which accounts for a fraction of Saxo's total trading volume, is enjoying a month-on-month increase in demand. The asset class generated $9.4 billion in volume in April, while the total in March was only $8.3 billion.