Saxo Bank sees a recovery in FX demand; June trading volume increases 44 percent year on year

FX trading volume grew month over month, despite a drop in total trading activity.

In June, FX ADV was $6.9 billion.

The trade figures for June 2022 were revealed by Saxo Bank, which reported a monthly drop-in total activity. Total trading volume for the month was $398.8 billion, a 5.4 percent decrease from the previous month.

Despite the monthly decline, total trade demand in June was much greater than in April. On a year-over-year basis, it increased by more than 41%.

Furthermore, demand for currency trading on Saxo's platform increased somewhat last month. The entire monthly volume of currency instruments was $152.5 billion, up from $149.6 billion the previous month and $106.1 billion in June 2021. Thus, foreign currency demand increased by 2% month over month and by over 44% year on year.

Furthermore, June's FX trading demand on Saxo was the biggest since mid-2020. Furthermore, the average daily trading volume reached $6.9 billion.

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However, stock trading demand fell last month. The entire trading volume with equity instruments provided by Saxo was $192.1, down from $220.1 billion the previous month. Furthermore, this asset class rebounded year after year, with demand increasing by about 52 percent.

Furthermore, Saxo provides commodity and fixed income trading services. While demand for the first fell by 14.7 percent month on month, demand for the second increased by 45.7 percent.

Saxo Bank is based in Denmark, although it has a strong presence in the Asia-Pacific region. Its emphasis on APAC has also been more visible in recent months, as seen by numerous major hires. In May, the business added Charu Chanana to its APAC market strategist team.

Aside from Saxo, several retail trading platforms are seeing strong volume increases. Exness, based in Cyprus and with a strong presence in developing economies, recorded $2.25 trillion in monthly trading volume in June, as the number of active customers on the trading platform reached a new high.