Saxo Bank Trading Volumes Show Mild Rebound in May 2018

April’s figure was the worst in 2018, totaling a nearly 85% drop from the year’s peak set earlier in February

Danish multi-asset brokerage Saxo Bank has reported its monthly metrics for May 2018, having managed to recover from the weak momentum seen last month due to a more volatile market trading atmosphere. The latest figures, however, saw a sizable consolidation in key volumes segments, failing to overtake a number of recent highs seen in February.

This week some of the competitors of the Danish brokerage, such as FXCM Group, also reported mixed results in their trading metrics for May over the month.

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During May 2018, Saxo Bank’s average daily FX volume came in at $12.3 billion, up 5.12 percent month-over-month from $11.7 billion in April 2018. April’s figure was the worst in 2018, totaling a nearly 85.0 percent drop from the year’s peak set earlier in February at $21.7 billion.

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May’s ADV for last month was also higher year-over-year, correlating to an increase of 21 percent relative to $10.2 billion in May 2017.

In terms of Saxo Bank’s total monthly FX volume in May 2018, it was reported at $283.4 billion, up 20 percent from $235.0 billion a year ago. Moreover, this figure corresponds to a monthly rise of 15.5 percent compared to $245.4 billion in April 2018.

Earlier today, Saxo Bank has announced collaboration with Nasdaq to provide portfolio management services, focused on developed and emerging markets stocks and does not include U.S. shares. The goal of the service is to deliver to clients a tailored and cost-effective way to invest in a portfolio that includes 30-40 quality stocks.

We also reported on the Danish broker last week when the high court of eastern Denmark (Østre Landsret), one of Denmark’s two ‎‎high courts, has ordered Saxo Bank A/S to pay out compensation exceeding ‎‎$300,000 in the latest lawsuit stemming from the SNB’s Black Swan.‎

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