Saxo Bank released its monthly report, which shows the daily average of FX, commodities, Equities, and monthly volume. The list shows a decrease in FX – Daily average and monthly volume compared to the previous month’s figures. It dropped to $5.5 in December from $6.3 in November 2022, which is approximately down 12.7%.
However, not only has the daily average decreased, but the total monthly volume has also decreased by 12%, showing the figure of $121.3, which was $138.0 in November. Therefore it is evident from the FX volume for Saxo Bank’s October 2022 report that there has been a sharp fall in the monthly average which needs amendments to end the year on an optimistic note.
Although the monthly value has dropped, fortunately, the value has increased in the annual report. Although, by comparing the values of December 2022 with December 2021, growth has been noticed. The FX daily average has climbed from $4.2 in Dec 2021 to $5.5 in Dec 2022, which is a 31% rise.
Saxo Bank is one of the prestigious top forex brokers UK firms, which is a fintech pioneer. Forex trading in the UK has rapidly increased in recent years. The number of traders is increasing drastically day by day to gain quick trading profits. The UK forex brokers are gaining popularity as it offers an immersive trading experience with selective tools and exceptional services for existing clients and also for new traders.
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As per the data revealed, the average daily commodities of Saxo Bank have dropped from $1.5 billion in November to $1.4 billion in December 2022. Despite the volatility in the FX market, Saxo Bank is providing better service to its customers and also doing well in the market. However, ups and downs are inevitable in any business, and Saxo Bank remained firm in providing the best financial services to its clients.