Data shows Saxo Bank March's trading volume has continued to remain at high levels, hitting $460.4 billion after a significant jump in demand for retail trading services.
Saxo Bank reported a total March trading volume of $460.4 billion, the highest since April 2020. The figure closed the first quarter of 2022 with a notable spike in demand for retail trading services.
Overall trading volume in March jumped 9.8% compared to the previous month with a 17% increase year-on-year. In addition, the average daily volume strengthened to $17.1 billion from $15.1 billion in February.
A Rise in Client Numbers
The forex trading instrument, which is one of Saxo Bank's main offerings to retail traders, was successfully traded at a volume of $152.2 billion, or 35% higher than the previous month's volume. Unfortunately, that yield is about 10.7% lower than March 2021 trading volume. On the other hand, the daily average of forex instruments stood at $6.6 billion, up from the previous month.
Unfortunately, demand for trading with equities fell last month, posting $231.7 billion. Demand for equity trading at the company fell for the second month in a row, by 85 percent from February and more than 20.5% from January.
However, demand for commodity trading jumped again to $67.6 billion from the previous month's $43.9 billion. Followed by an increase in the number of clients by 19%.
Apart from Saxo Bank, other brokers have also witnessed a fantastic spike in client activity over the last few months. Recently, Exness' March trading volume closed with a record high of $2.48 billion.