Saxo Capital Markets Australia launches Crypto FX trading for Bitcoin, Ethereum and Litecoin
- Globally, Saxo Bank becomes one of the first banks to offer seamless trading in major cryptocurrencies as FX spot pairs
- Australia is a selected market where Bitcoin, Ethereum and Litecoin spot pairs can be traded against EUR, USD, and JPY from a single margin account
- The new offering provides clients reliable, regulated and transparent access to diversification and hedging in the most popular cryptocurrencies
Saxo Markets Australia, the online trading and investment specialist, is launching a new cryptocurrency offering enabling clients to trade Bitcoin, Ethereum and Litecoin against EUR, USD, and JPY from a single margin account.
For Saxo Bank globally, this Crypto FX offering complements an existing range of over 32 different cryptocurrency trackers and ETNs, which so far this year have seen trading volumes exceeding the entire turnover for the whole of 2020 – a year in which volumes surged 130%.
Australia is one of the selected markets where clients can trade Crypto FX pairs during the usual FX trading hours. Clients can trade and hedge both long and short exposure in the three major cryptocurrencies, which will be in the form of derivatives and not the physical coins. Due to the volatile nature of the instruments, retail clients can trade with 2:1 leverage, and wholesale with 3:1 leverage.
“Saxo’s Crypto FX offering is more reliable, accessible and secure compared to many other competing offerings, and we are excited to be one of the first to offer it to Australian investors. Crypto features in our ‘100-year portfolio’ because we are confident now in how the market has matured to make it a product that is here to stay. Pairing it with FX makes it more appealing to retail investors who are more active in the market as it offers a trusted and regulated way to trade cryptos. While buying a whole bitcoin can be a rather large exposure for the average retail investor, trading via ETNs for example means more investors can access this product in a way that works for their portfolio and makes the most of its volatility. It’s also fundamentally less risky than using cryptocurrency wallets where access can, and has, been lost to dramatic effect.”
Stanislav Kostyukhin, Commercial Owner – Trader segment, comments:
“Saxo Bank has developed a unique proposition which gives our clients access to the growing crypto space in a flexible, secure and hassle-free manner from a single fully-licensed account without the need to use wallets or cold storage solutions. The offering sits at the intersection of traditional finance and crypto, which is where we see the market evolving as it draws the attention of retail traders and financial institutions.
“We set out to deliver a product which offers the security and ease of use associated with more mature asset classes, coupled with the volatility and dynamics of Bitcoin, Ethereum, and Litecoin – giving clients the opportunity to trade both long and short in the thriving crypto market. Crypto FX achieves this by building on 30 years’ experience as a leading firm in trading and investing combining the traditional qualities of a currency pair alongside the exciting possibilities of a cryptocurrency.”
You can read more about Saxo Bank’s new crypto offering here: https://www.home.saxo/en-au/products/crypto
Saxo Capital Markets (Australia) Limited ABN 32 110 128 286 AFSL 280372 (Saxo Markets), is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark, and regulated by the Danish Financial Supervisory Authority (FSA). Saxo Markets is regulated by the Australian Securities & Investments Commission.
Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of trading and investment technologies, tools and strategies.
For almost 25 years, Saxo’s mission has been to enable individuals and institutions by facilitating their access to professional trading and investing through technology and expertise.
As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.
Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.
Founded in 1992 and headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.