Saxo launches new account type with industry leading pricing and limited risk
Saxo announces launch of new entry level account, Saxo Essential, with industry leading pricing and prudent risk limits on margin trading
Saxo Bank, the online multi-asset trading and investment specialist, has today announced the launch of the Essential account – a price competitive solution for entry-level traders bolstering Saxo’s ambition to compete on price, product, service and platform.
The new account will initially launch in UAE January 8 and will be rolled out in UK, Australia and Singapore during the first months of 2018. In the selected markets trading accounts for individuals will consist of Essential, Classic, Platinum and VIP.
The Essential account will offer access to four asset classes; FX, index CFDs, stocks and bonds. Clients will be able to access Saxo’s full range of stocks and bonds, but only the most popular FX pairs and index CFDs at very competitive pricing and low minimum funding of 1,000 EUR. Essential also incorporates additional risk management functionality, with limited loss, limited leverage, in line with recent proposals from European regulators.
Essential is underpinned by SaxoTraderGO, Saxo Bank’s next generation platform built with OpenAPI technology offering functionality across the entire trade cycle – from pre-trade to execution to post-trade services.
Commenting on the launch, Patrice Henault, Global Head of Trader Experience, Saxo Bank, said: “We continuously strive to be the best partner for our clients, with a steadfast commitment to providing market-leading choice on account depth. The launch of our new Essential account is the next step in that journey, offering a price competitive alternative for entry level traders.”
Henault added: “This introduction of Essential aligns us further with our clients’ interests and goes hand in hand with regulatory efforts to introduce greater transparency to trading, prudent leverage and limited risk accounts. In line with this trend, losses on the Essential account on OTC leverage products will not be able to exceed cash deposits and we’ve imposed margin restrictions around certain exposures.”
More detail on website here: https://www.home.saxo/en-gb/accounts/essential
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo