Saxo Bank, a prominent forex broker, has concluded the year 2023 on a high note, boasting record volumes, surpassing the significant milestone of 1M active accounts, and achieving a remarkable DKK 721 billion in managed client assets. This success comes on the heels of the bank celebrating $100 billion in client assets just the previous year.

In December 2023, Saxo Bank reported a robust total monthly FX volume of $135 billion, marking a notable 13.4% increase from November’s figures and an impressive 11% surge compared to December 2022, which recorded $121 billion. Despite the stocks and commodities businesses showing relatively stable performance, the average daily volume across the FCA-regulated broker’s asset classes experienced a noteworthy growth, reaching $17.6 billion/day in December 2023, up from the previous month’s $16.5 billion.

Saxo Bank Hits 1M Accounts, Manages DKK 721B in Assets

Recognized as a Systemically Important Financial Institution (SIFI) by the DFDSA (Danish Financial Supervisory Authority) last year, Saxo Bank has demonstrated its resilience and responsibility in the financial sector. This designation subjects the bank to heightened scrutiny, signifying its potential influence on the broader economic system.

Notably, Saxo Bank achieved a significant milestone by surpassing the 1 million mark in total active accounts for the first time in its more than three decades of existence. This milestone underscores the bank’s enduring appeal and the trust it has garnered from a diverse and growing user base.

In addition to the impressive growth in active accounts, Saxo Bank expanded its managed client assets to DKK 721 billion, compared to DKK 591 billion in the previous year. This substantial increase of DKK 79 billion was attributed to net funding, including cash and securities.

Saxo Bank’s stellar performance in 2023 reflects its ability to navigate the dynamic financial landscape, adapt to market changes, and effectively manage client assets. As it continues to set new records and milestones, Saxo Bank solidifies its position as a key player in the global financial industry.

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