Saxo Bank announced today (Friday) that the client assets on its platform have reached the milestone of DKK 800 billion (about $116.1 billion), a record for the Danish broker, which has more than 1.2 million clients globally.

A Massive Surge in Client Assets

Established in 1992, the broker took 25 years to surpass client deposits of DKK 150 billion. However, in just six additional years, it added DKK 650 billion in client deposits, showing an astronomical increase in trading demand.

Being a Danish company, Saxo has marketed its milestone in Danish krone. However, it highlighted that the achievement came from its global client base.

“We are grateful for the trust of our clients, which has made reaching this milestone possible,” said Kim Fournais, Founder and CEO of Saxo Bank. “Lowering our prices at the start of the year attracted, and continues to attract, many new clients and assets. Additionally, our broad product range and offerings allow clients to diversify their portfolios, mitigating risks associated with market volatility, which is a key theme for our growing client base.”

A Global Broker

Saxo offers a range of financial products, including spot forex, equities, commodities, fixed income, and contracts for differences (CFDs) of several asset classes, including cryptocurrencies. Although the company made its name with its spot forex offerings, it recently witnessed a massive decline in forex demand while equities reached a record.

Meanwhile, the brokerage is reportedly contemplating selling its minority or majority stake at a valuation between EUR 1.5 billion and EUR 2 billion. Although not confirmed officially, the reports of the sale came after the company failed to close a SPAC deal to go public.

As Finance Magnates reported recently, the ownership of the broker also changed as Danish insurance giant Sampo transferred its entire 19.8 percent stake in the broker to Mandatum. The deal was part of the demerger of Sampo and Mandatum completed in 2023.