Saxo Bank Celebrates Milestone Achievement: Serving 1 Million Clients and Counting

Today, one of the world’s largest investment and wealth management solutions providers, the Saxo Bank, celebrates a major milestone. The bank announced that it had onboarded over a million clients on its platform.

While quite a remarkable feat, this is not all, as the bank also revealed that its client assets globally have skyrocketed to reach a new all-time high.

Saxo Bank records $100 billion in clients’ assets

Supporting more than a million individual clients is a massive achievement, and it reflects the rise of a trend where people around the world seek to gain greater control over their investments, and funds, in general. More and more people are turning to alternative forms of banking through digital platforms.

With Saxo Bank being a provider of online trading platforms, this rapid growth is also influenced by its continued growth and its services. Furthermore, the company revealed that its clients’ assets climbed above $100 billion, which only further emphasizes the trend.

Additionally, the bank’s growth is speeding up. It took 25 years for it to reach $20 billion in clients’ assets. However, it took only five years to push the figure from $20 billion to $100 billion, its new ATH.

The milestones do not only serve to show the bank’s success but also the amount of trust from its clients and the positive reputation that it enjoys. As years went by, the number of clients and the amount that got deposited to the company kept rising drastically, despite the macroeconomic challenges seen in recent years.

Saxo Bank seeks to help people put their wealth to work

With the new achievement, the bank also cemented its position as a leader in the technology services sector. Its CEO and founder, Kim Fournais, said, “I would like to extend a big thank you to all our passionate and committed employees who work tirelessly behind our award-winning platforms. Likewise, we are humbled by the immense trust that our 1 million clients and partners around the world have placed in us – thank you to all of you.”

He added that he is extremely satisfied with the increased participation of people around the world who use digital platforms like Saxo Bank. People are becoming more and more open to putting their wealth to work, despite the uncertainties caused by geopolitical tensions and high levels of inflation.

Fournais noted that he founded the company seeking to make global capital markets accessible for more people, and now, people are actively looking for methods of using their money in the right way. He is pleased with this development, and Saxo Bank is there to help.

Right now, the bank is waiting to be appointed as a Systematically Important Financial Institution (SIFI) by the Danish Financial Supervisory Authority (FSA). Back in May, the bank saw a 27% increase in volumes, reaching a monthly turnover of $130.5 billion. Meanwhile, its daily average volume climbed to $5.7 billion.

These figures came in spite of a massive decline in forex volumes over the last months. Fortunately, trading of other assets was more than capable of making up for it. Commodities saw a 19% increase, equities surged by 31%, and fixed income grew by 12%, reaching volumes of $40.7 billion, $228.2 billion, and $7.6 billion, respectively.