Danish broker Saxo Bank has released its financial report for January 2024, showing that total client trading volume was $375.5 billion. This is significantly lower than the monthly average for 2023 of $399.4 billion.

The report showed that forex trading volume for the period fell to $106.7 billion from $134.8 billion in December 2023.

Average daily volume (ADV) in the FX market reached $4.9 billion in January, well below the $6.4 billion recorded in the previous month.

Total ADV for all asset classes, including commodities and equities, was $17.1 billion. In December 2023, the figure was $17.6 billion.

In January 2024, equity trading volume rose 14% to $219.7 billion. Commodities trading volume rose 24% to $39.3 billion compared to December 2023, while fixed income trading volume fell 5% to $9.8 billion.

Saxo Bank emphasized that the decline in client trading volumes is primarily due to the uncertainty in the global financial markets, which is affecting trader and investor activity and will continue in 2024.

In January, Saxo Bank announced the appointment of John Carmichael as Chief Risk and Compliance Officer.

Saxo Bank is a broker dedicated to professional active and passive trading. The broker currently provides clients from 170 countries with online access to various financial markets.