Saxo Bank Posts Best FX Volumes in March Since 2018

The total monthly volumes were the best the broker has seen in years.

As more and more strong monthly trading volumes for March pour in for brokers, exchanges and trading platforms, multi-asset brokerage Saxo Bank has joined the ranks by reporting strong foreign exchange (forex) and equities trading volumes.

For the month of March, Saxo Bank recorded a total monthly volume of $496.8 billion and a daily average of $22.6 billion, driven by market volatility caused by the coronavirus pandemic. When measuring March’s monthly volume against the previous month, which was $314.7 billion, volumes have increased by 57.9 percent.

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Comparing last month’s total trading volume against the corresponding period of the previous year, which had a total monthly volume of $251.9 billion, last month’s volume has jumped by 97.2 percent year-on-year. The total monthly volume is the strongest Saxo Bank has achieved since March of 2018.

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Saxo Bank posts best FX volumes in years

Taking a look at the total monthly foreign exchange (forex) volume, the broker has achieved a solid monthly uptick. Coming in at $248.6 billion in March, volumes have grown by 72.8 percent month-on-month. March’s total FX volume is the best result Saxo Bank has posted since June of 2018.

The total trading volume for equities in March also managed to achieve a strong uptick from the previous month, rising from $119.9 billion in February of 2020 to reach $182.6 billion. This translates to a growth of 52.3 percent. Against March of 2019, volumes have jumped significantly by 213.7 percent.

Fixed-income trading also did well in March, with the monthly volume coming in at $22.6 billion. Against February, volumes are higher by around 65.0 percent, and they have risen by 143.0 percent on a yearly comparison.

Wrapping up the analysis is the trading volume for commodities, which was $43.1 billion in March of 2020. Weighing this against the previous month, volumes have increased by 15.5 percent. They have also surged by 74.5 percent on a yearly measurement.

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