Saxo Bank sees a decrease in trading metrics for December, with a total trading volume of $121.3 billion, which drops 12% compared to the previous month.
Recently Saxo Bank published its FX trading metrics for December 2022, reporting reduced monthly demand across all asset classes. Monthly trading volume reached $415.7 billion last month, down by 9.3%.
Demand for retail forex trading also slumped 12.1%, for a total monthly volume of $121.3 billion, vs $138 billion in November. The average daily trading volume with FX instruments also fell 8% to $5.5 billion.
This decrease was caused by the year-end holidays when trading activity became quiet, which often happens yearly. However, monthly forex trading requests increased by 26.7% compared to the previous year of $95.7 billion.
Furthermore, demand for commodities and fixed-income instruments decreased month on month. In December, monthly commodity volumes reached $30.4 billion, while fixed income monthly volume fell to $7.9 billion from $9.4 billion.
However, Saxo ended December with a total monthly equity volume of $255.7 billion, an increase from $233 billion in December 2021. The daily average with equity instruments was $11.6 billion in December 2022, down from November's $12.7 billion but strengthened from $10.1 billion in December 2021.
Even though market volatility causes declines here and there, Saxo Bank always provides better client service and is doing well in the industry.