Saxo Bank, the Denmark-based multi-asset brokerage, today announced that it will finally be offering a No Dealing Desk (NDD) account execution for FX, as well as a more integrated MetraTrader4 (MT4) solution providing clients with a choice of pricing structures and access to non-FX instruments.
Saxo Bank will be launching multiple new NDD style accounts designed for clients seeking Direct Market Access (DMA) by trading anonymously on best-in-class liquidity sourced from the world’s top banks and specialist market makers. With this offering, Saxo provides clients with a choice of pricing structures; clients can either trade on raw market spreads plus volume-based commissions, or trade on the same DMA liquidity with an all-inclusive spread. This will bring the broker up to the standard that others, such as FXCM, have been offering for years.
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Another much more innovative offer announced today by Saxo Bank, is that it now offers investors what it calls a “SaxoMT4Linked“ account. This allows clients to combine use of MT4 as an execution harness for FX and CFDs with trading on Saxo Bank’s proprietary platforms. This provides clients with an opportunity to access tens of thousands of additional products, including Equities, Futures, Options, Fixed Income and ETFs. All trades flow to a single multi-product, cross collateralized margin account.
Commenting on the launch, Neil Browning, Senior Director, FX Sales, said: “As Saxo experiences an increased demand for flexible solutions, we are presenting these new accounts for our clients to empower them with the opportunity to choose the combination of platform, pricing and market access they believe best suits their own trading style and needs. Being a trusted service provider, we continue to provide new opportunities for our clients, as we strive to be the facilitator of choice.”
Saxo Bank is overhauling its entire offering and also recently announced that the broker will start charging a small custody fee on a monthly basis for clients holding stocks, bonds and ETFs/ETCs starting from January 1st, 2015.