Saxo Sees Dip in December FX Demand, Equities Soars 49%

Saxo Bank has released the trading numbers for December, showing a massive monthly surge in demand for its equities offering, but a decline in the foreign exchange (forex) trading volume.

Considering forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term first, the total trading volume with the asset class came down to $95.7 billion from the previous month’s $99.2 billion. That was a month-over-month decline of 3.5 percent. In addition, the daily average volume declined to $4.2 billion last month from November’s $4.5 billion.

Though a monthly decline can be justified as a cyclical trend of the industry, forex demand on the trading platform also dropped significantly year-over-year. In December, Saxo reported $128.1 billion in trading volume, making last month’s yearly drop as much as 25 percent or more.

Moreover, the reported FX trading volume for December 2021 was the lowest the Danish trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term had recorded in the whole year.

Jump in Equities

Unlike forex, equities trading demand on Saxo surged by more than 49 percent when compared with the previous month. In absolute terms, the total monthly volume with equities came in at $233 billion. On a yearly basis, demand for equities instruments increased by 153.8 percent.

While commodities demand declined by almost 15 percent to $25.6 billion in December, commodities demand remained flat at $6.8 billion. Despite the downturn in forex trading, the upward drag in equities demand resulted in an uptick in the overall monthly volume that came in at $361.1 billion. Additionally, the total monthly volume surged by 23.6 percent month-over-month and over 42 percent year-over-year.

Furthermore, Saxo offers cryptocurrency derivatives to its clients in Singapore and Australia. Launched in May last year, crypto products are high in demand as they brought in $2.5 billion in turnover until October.