April Triumph: Saxo Bank FX Recovery, Equities Scale Heights

Saxo Bank saw FX trading volume recover by 16.6% in April, while equities hit a record $303.7 billion. Monthly commodities demand also rose.

Key Points

• Saxo Bank saw a 16.6% increase in forex trading volume in April, though it remains below historical levels.
• Equities trading on Saxo Bank surged to $303.7 billion in April, indicating a new high and strong investor confidence in the equity market.

In April, Saxo Bank saw a noteworthy turnaround from previous months, with a substantial recovery in its forex (FX) trading volume. According to recent reports, the platform’s FX volume surged by 16.6 percent month-over-month, although it remains below previous peaks. Concurrently, Saxo Bank experienced record-breaking demand for equities, with a monthly volume hitting $303.7 billion.

The rebound in FX trading follows a sluggish period, with Saxo Bank reporting its lowest monthly FX volume since 2016 in March. During that month, FX volume plummeted 7.9 percent from the previous month and a staggering 45.3 percent from the prior year, reaching just $85.1 billion. However, April’s figures indicate a significant recovery, albeit lower than in recent years.

Despite the month-over-month increase, the FX volume for April is still below historical averages. The daily average also improved to $4.5 billion, rebounding from March’s $4.1 billion and February’s $4.4 billion.

April Triumph: Saxo Bank FX Recovery, Equities Scale Heights

In contrast, demand for equities soared to unprecedented levels, reaching $303.7 billion in April. This represents a remarkable 27 percent increase from the previous month and a 74 percent surge from last year. The daily average volume for equities also witnessed a substantial uptick, hitting $13.8 billion, compared to $11.4 billion in March 2024 and $8.7 billion in April 2023.

Saxo Bank, established in 1992 and rebranded in 2001 after securing a banking license, offers diverse trading services, including commodities and fixed-income instruments. The platform also offers contracts for differences (CFDs) for cryptocurrencies in select markets in the Asia-Pacific region, but these volumes are not publicly disclosed.

In addition to the surge in equities and FX trading, commodities experienced an uptick in demand, rising to $70.7 billion in April from $44.1 billion the previous month. However, fixed income slightly declined, with monthly volume slipping to $9 billion from $9.3 billion.

The collective increase in demand for equities and FX contributed to Saxo Bank’s overall monthly volume of $482.7 billion, marking a substantial 27.8 percent month-over-month increase and a notable 52.4 percent year-over-year rise.

Meanwhile, Saxo Bank is reportedly exploring options to sell a minority or majority stake, with a valuation between EUR 1.5 billion and EUR 2 billion. The Danish broker’s earlier attempts to finalize a SPAC deal for a public listing fell through.

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