The Danish investment services and retail forex broker Saxo Bank reported that April has been the best month so far since the beginning of the year. According to the company data, last month its forex trading clients generated a total trading volume of $260 billion, which is 2.4% more than in March and 17.1% more than last April.
It has been growing steadily since last November, but is still far away from the record of January 2013 (the earliest data Saxo Bank provides on its website) when it was $427 billion.
The average daily volume (ADV) in April this year amounted to $12.4 billion – a 12.7% increase from last month and almost 23% on an annual basis.
The client’s collateral deposits for trading also were the highest since the start of 2016 and reached $12.06 billion. It is the highest sum since the beginning of 2013.
Towards the end of April Saxo Bank reported a $98.2 million net loss in 2015, caused by the value surge of the Swiss franc in the beginning of the year.
Saxo Bank acts as a Market Maker and has 30,000 financial instruments available on its platforms, including forex, binary options on forex and stocks and contracts, CFDs, stocks, futures, and bonds, among others. It is headquartered in Copenhagen, Denmark, and operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The company is licensed and regulated by the Danish Financial Supervisory Authority (FSA) and has units that are fall under the regulation of a number of other regulatory bodies worldwide.