Hailing from Denmark, the biggest online brokerage powerhouse in Europe, Saxo Bank has released its monthly volumes figures for April. After the decent spike that we observed in January, the trend reversal which started in February is still ongoing with the volume metrics number falling to $213 billion, which is about 10% lower than March figures.
The drop marks a record low since the company started publishing these numbers in the beginning of last year and a third straight month of declines. The spike up in January for now appears to be a one off event, as it is clear that only a major shift in sentiment could unlock volatility in major FX pairs which have been hovering in tight ranges for the past two weeks, marking the lowest implied volatility figures in years.
FBS Receives Best Forex Broker Europe 2019 Award by The European MagazineGo to article >>
The amount of total clients’ collateral deposits for trading has increased by a touch more than 2% to $9.08 billion, while the daily average figures have dropped to $10.2 billion, which is also the lowest on record. In a recent effort to further diversify its offerings the company has launched stock options trading, catering to the needs of retail investors which up until now have had to resort to mostly US-based trading platforms to make use of trading options.