Saxo Bank Volumes Slump in February despite Record Client Deposits
The Danish multi-asset brokerage published its monthly numbers for February, stating that it had experienced growth in new client numbers
According to data released by the Danish multi-asset brokerage, Saxo Bank, trading volumes throughout the month of February have materially declined when compared to the first month of the year. The average daily trading volume (ADV) slumped by 37 percent to $9.0 billion.
The total trading volume declined 40 percent to $179 billion, marking a multi-year low. The decline comes during a challenging month for the foreign exchange industry as volatility has declined materially in major currency pairs.
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Despite dwindling volumes, client collateral deposits at Saxo Bank have increased during the month of February marking the second highest month since November 2014 in U.S. dollar terms ($11.09 billion) and an all-time high when denominated in Danish krone (DKK 73.9 billion), which is the currency which Saxo Bank uses when reporting financials.
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Commenting on the decline in trading volumes, Saxo Bank’s Head of Markets, Claus Nielsen, said, “Since its peak in mid-January, market volatility has decreased. You can use EUR/USD 1 month as a reference. EUR/USD volatility topped at 14% and is now back at 9%.”
“We still expect firm volatilities over the coming months and to reflect this we have during January and February increased various margin requirements on a number of products including Foreign Exchange in order to protect our clients,” he commented on Saxo Bank’s recent changes in leverage levels on certain products.
Commenting on record client deposits, Mr. Nielsen said, “Since January, we have seen a fresh inflow of clients and clients’ collateral deposits for trading are at a record-high, emphasising that more than ever, traders and investors require a safe environment for their funds combined with access to a robust multi-asset trading platform and we can give them that.”
Of course cash on deposit will go up if you increase margins. This is not a positive.
Of course cash on deposit will go up if you increase margins. This is not a positive.
People covering negative balances……doesn’t take a genius.
People covering negative balances……doesn’t take a genius.
http://www.atozforex.com/news/snb-aftermath-saxo-bank-class-action-lawsuit-possibility
http://www.atozforex.com/news/snb-aftermath-saxo-bank-class-action-lawsuit-possibility
Usual spin. Quite simply if clients are not trading, then they are not losing. The account balance remains intact and new clients add …a bit. Also not trading.
Usual spin. Quite simply if clients are not trading, then they are not losing. The account balance remains intact and new clients add …a bit. Also not trading.
Dear Sirs, Saxo Bank have re-quoted the prices of te CHF pairs after to close the position in the first time in their trading platform. They did it to get money from theirs customers and now most of the customers have negative balance. It is not legal, the other brokers did not do that and they did not say nothing about liquidity in the market. We are going to start a class action in Denmark to annul the re-quote in the legal way. Please if you are affected with the same re-quote problem send an e-mail to saxobankcheatedusersgroup@gmail.com to join… Read more »
Dear Sirs, Saxo Bank have re-quoted the prices of te CHF pairs after to close the position in the first time in their trading platform. They did it to get money from theirs customers and now most of the customers have negative balance. It is not legal, the other brokers did not do that and they did not say nothing about liquidity in the market. We are going to start a class action in Denmark to annul the re-quote in the legal way. Please if you are affected with the same re-quote problem send an e-mail to saxobankcheatedusersgroup@gmail.com to join… Read more »
Please follow the below link to see the real Saxo and the real reson behind the decline in volumnes: http://sbcug.yolasite.com/ When will Forexmagnates eventually expose Saxo and the law suits against them. WE WANT TO TELL YOU THE REAL HISTORY ABOUT WHAT SAXO BANK DID TO THEIR CUSTOMERS. THIS IS THE REAL HISTORY. In a surprise move on January 15, the Swiss National Bank (SNB) removed the exchange rate floor of 1.20 on the value of the Euro versus the Swiss franc (EUR/CHF). After that the EUR/CHF rate dropped. At that moment a lot of Saxo Bank customers had long… Read more »
Please follow the below link to see the real Saxo and the real reson behind the decline in volumnes: http://sbcug.yolasite.com/ When will Forexmagnates eventually expose Saxo and the law suits against them. WE WANT TO TELL YOU THE REAL HISTORY ABOUT WHAT SAXO BANK DID TO THEIR CUSTOMERS. THIS IS THE REAL HISTORY. In a surprise move on January 15, the Swiss National Bank (SNB) removed the exchange rate floor of 1.20 on the value of the Euro versus the Swiss franc (EUR/CHF). After that the EUR/CHF rate dropped. At that moment a lot of Saxo Bank customers had long… Read more »