Saxo Bank finally integrated and launched MT4 for its users – the process took almost two years. It was clear since the partial acquisition of Leverate that Saxo will be looking to offer MT4 to its clients however the bank never launched it directly until now. Saxo instead tried launching a separate Cyprus brokerage called ForexTrading which was focused on the retail MT4 users while Saxo kept the focus on high-end users. This didn’t work and along with shutting ForexTrading down and cutting costs Saxo now finally integrated MT4 directly into its website thus becoming available to all its users. What used to be ForexTrading.com now redirects to SaxoMT4.com and puts big focus on social. Interestingly Saxo is not offering Leverate’s Sirix social platform but rather an integration with Zulutrade and Currensee.
Following the success and the high demand for the MetaTrader 4 trading application, online multi-asset investment specialist Saxo Bank is re-launching the Bank’s MT4 platform with a new name, SaxoMT4. SaxoMT4 actively targets the large segment of clients accustomed to the specific trading environment of MetaTrader, as well as the increasingly popular algorithmic trading segment.
Launched through Saxo Bank’s subsidiary, Saxo Capital Markets CY Ltd, the SaxoMT4 platform delivers superior liquidity and the world class execution services of Saxo Bank to MetaTrader. Using their SaxoMT4 account, retail investors are now able to trade anytime, anywhere with the SaxoMT4 Mobile or Metaquotes MT4 mobile trading apps. Users can also access their account through the easy-to-use SaxoMT4 Web Trader. MetaTrader offers access to FX instruments, commodities and stock indices through CFDs.
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In 2011, Saxo Bank acquired a 25% stake in Leverate, the broker solutions provider which powers MetaTrader 4. Following this acquisition, the Bank launched ForexTrading.com in 2012, incorporating the MT4 offering into its platform which allowed clients to use the full range of platforms tools. The SaxoMT4 offering replaces ForexTrading.com to accurately reflect the relationship with Saxo Bank.
Lars Seier Christensen, co-founder and CEO, Saxo Bank comments: “At Saxo Bank we have one priority, which is to deliver the best possible trading offering available. Whilst we firmly believe that our SaxoTrader platform is the best platform in the forex market, there is significant demand for the MetaTrader platform, primarily because of its algorithmic trading capabilities. With the SaxoMT4 platform, retail investors with a preference for MetaTrader will finally be able to benefit from the superior liquidity and execution previously exclusively reserved for SaxoTrader clients.”
Alongside the retail offering, Saxo Bank will provide a full institutional service through its French subsidiary, Saxo Banque, reducing the need for an expensive and dedicated IT team. SaxoMT4 allows hedge funds to concentrate on their core trading strategies. Saxo Banque France will also cater for asset managers and other Introducing Broker relationships.