Volumes Down as Assets Grow During August at Saxo Bank

Saxo Bank has reported its trading metrics for the month of August. During the month, the firm reported average daily

Saxo Bank has reported its trading metrics for the month of August. During the month, the firm reported average daily volumes of $10.6 billion, a 10.9% decline from July’s figures. The volume numbers marked Saxo Bank’s lowest activity of the year, and was 45% below peak trading figures which were achieved in January. Despite, the lack of activity, the bank reported that client collateral for trading continued was $7.14 billion. The figure represents a 4.3% increase from July, and continues to show that the firm is able to grow its customer deposit base even during slow periods of trading in the market.  The trading metrics were the first monthly figures to be disseminated using the firm’s new Transparency page.

In terms of average client size, the firm benefits from using a high minimum deposit threshold and multi-asset offering. As such, with average client sizes between $50-100,000, much of Saxo Bank customer base is resembling that of ‘private’ banking customers rather than typical retail forex clients. Similarly, we saw results from Swissquote earlier this year, which showed average account size of forex trading accounts at a fraction of its multi-asset trading account offering.

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Saxo Bank Average Daily Volumes ($billions)
Saxo Bank Average Daily Volumes ($billions)
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