Saxo, a multi-asset trading and investment firm, has partnered with novobanco, a Portuguese bank, to provide novobanco clients with access to Saxo’s advanced trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. This partnership aims to offer a fully digital investment experience to Portuguese investors.

New Platform Expands Investment Opportunities

Under this agreement, novobanco will integrate Saxo's platform, allowing its clients to explore a broader range of investment opportunities. The move aligns with the increasing digitalization of financial services in Portugal, where more investors are seeking digital platforms that provide diverse investment options.

“As a bank fully focused on the customer and their needs, we believe that this partnership is an enabler of the Wealth Management journey we have embarked upon by allowing both a democratization and a digitalization of the investment experience,” Elisabete Pinto Pereira, Director of Investment and Protection, novobanco, said.

Finance Magnates previously reported that Saxo Bank A/S is closing its Hong Kong office, citing changes in the business environment as the reason. The company also announced the closure of its Shanghai office. However, Saxo emphasized that it will continue to operate in the Asia-Pacific region from its Singapore base.

In a statement, Saxo described the decision as “difficult but necessary” and confirmed that it has ceased accepting new clients. The company emphasized that its primary focus is on managing a “smooth offboarding process” for impacted clients and partners.

🤝🏽novobanco and Saxo Bank partner to launch an investment platform aimed at retail and professional clients

🔗 #platform #investment #RankiaProEuropehttps://t.co/bTnWmU76NL pic.twitter.com/XbKVPNxubj

— RankiaPro Europe (@RankiaProEN) November 20, 2024

Investment Platform Upgrades for Portugal

The partnership will leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term novobanco’s existing services and enhance its offerings by incorporating Saxo’s award-winning platform. The platform offers a wide range of trading and analytical tools, designed to support both individual investors and traders in accessing global markets.

This collaboration aims to allow investors by giving them access to a more comprehensive set of financial instruments and state-of-the-art tools for better decision-making.

“As a leading digital trading and investment services provider, Saxo is thrilled to expand the relationship with the novobanco Group and contribute to their drive towards improved customer centricity,” commented Henrik Alsøe, Global Head of Saxo Institutional.

“We believe our respective expertise can drive mutual innovations as we help naturally curious people get invested in the global financial markets. The novobanco – Saxo combination offers Portuguese retail investors unparalleled choice in a time when more and more people want to take control of their own investments.”