Parting with CySEC

Saxo Bank Launches SaxoTraderGO Globally, Renounces CySEC License

The Danish multi-asset brokerage has concluded the launch of its new platform with all retail clients of the broker gaining

About a month and a half after Saxo Bank introduced its new trading platform in Paris, the brokerage has announced that it is about to conclude with the global rollout of SaxoTraderGO. The last country where the new solution will be introduced today is Switzerland.

In the meantime, the Danish broker’s Cypriot subsidiary CIF Saxo Capital Markets has renounced its license, with the company distancing itself further away from Cyprus after ditching the MT4 platform earlier this month.

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Deployment to white labels of Saxo Bank during Q3 & Q4 2015

All European clients of the Danish broker have already been granted access to the platform while those from APAC, the Middle East and Latin America are due to get connected throughout June.

The launch coincides with the cycling event Tour de Swiss, where Saxo Bank sponsored cyclist Peter Sagan is competing.

Finance Magnates’ reporters provided a preview of the platform after it got launched in Paris in May. While the solution is still in development and features like trend line and indicator alerts have yet to be deployed, the platform has shown a level of usability significantly surpassing that of its legacy Saxo Trader platform.

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With the launch in Switzerland the company has concluded its efforts in delivering the solution to its retail clients. What follows is deployment to white labels of Saxo Bank during the 3rd and 4th quarters of 2015.

20% of our revenue from retail clients is generated via mobile and tablet devices

Another crucial component of the new SaxoTraderGO platform is the launch of the open API, which the company is preparing for later this year. The infrastructure which the open API provides will be vital to boost the platform’s usability with a slew of custom features, including tailored charting options, automated trading and many other apps for the platform soon to become ecosystem.

Surveying Traders

The Head of Platforms at Saxo Bank, Christian Lund Hammer, said in the announcement “Today 20% of our revenue from retail clients is generated via mobile and tablet devices and 75% of all our trades and orders come from clients who use multiple devices to trade. In SaxoTraderGO, we have developed a platform that works the same on desktops, tablets and mobile phones and carries through changes to layout or settings across devices.”

Saxo Bank developed its software after consulting with more than 3,000 traders from around the globe. Some rather interesting regional trends have been identified by the team when looking for opinions on what traders want in a trading platform.

Customers broker services customers from China and South Africa have been keen to get more content – insights and analytics have been amongst their top priorities. At the same time, traders from Central and Eastern Europe (CEE) have been the keenest to access markets and asset classes high in their list of priorities.

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