The brokers marked total monthly volumes as the best out of all in the past years
The multi-asset brokerage, Saxo Bank has recently joined the ranks by broadcasting solid forex (foreign exchange) and equities trading volumes. Along with it, more sturdy monthly trading volumes are also being added in for brokers, exchanges and trading for March.
The total record of monthly volume for the Saxo Bank in the month of March has been marked as $496.8 billion and $22.6 billion for a daily average. It has been motivated by the volatility of the market that is caused due to the outbreak of global pandemic; Covid19. When the measurement was conducted for March’s monthly volume in regard to the previous month that was $314.7 billion, it is proved to have increased by 57.9%.
When the total trading volume of the last month as compared to the past year that consisted of a monthly volume of $251.9 billion, it can be concluded that last month’s volume has hopped by the total of 97.2% year over year. Thus, it can be revealed that Saxo Bank has achieved its strongest total monthly volume since March 2018.
A solid monthly uptick has been achieved by a broker after taking a look at the total monthly forex (foreign exchange volume). Starting at $248.6 billion in March, the growth of 77.8% of the volume has been observed every month. The total FX volume for is termed to be the best of all for Saxo Bank, displayed since June 2018.
The equities also gained success in March, rising from $119.9 billion in February 2020 and reaching $182.6 billion. However, volumes have risen by 213.7% since March 2019.