Retail FX and CFDs broker Saxo Bank is experiencing a slowdown in trading activity, with February 2024 volumes reaching their lowest point in over eight years. This follows a challenging second half of 2023, where the Copenhagen-based broker reported a net loss.
February saw a 5% month-on-month decline in trading volumes for Saxo Bank, totaling $358.3 billion. This marks a continued downward trend, with 2024 volumes averaging $367 billion monthly – an 8% decrease from 2023’s average.
The slowdown hit all asset classes, with FX trading experiencing the most significant drop (13%). February’s FX volumes of $92.4 billion mark an eight-year low for Saxo Bank.
