Saxo adds Web and Mobile Trader

Saxo Bank has recently announced that it has introduced a browser-based trading platform to complement its Saxo Trader.

Saxo WebTrader and MobileTrader enable users to trade FX from any computer, laptop, GPRS mobile phone or personal digital assistant without the need to download additional software.

Niels Jakobsen, senior developer and team leader for the WebTrader project at Saxo Bank, said to use MobileTrader on a GPRS mobile phone or PDA without having to download additional software, "users need a GPRS data arrangement with their operators".

WebTrader users can log in to their Saxo account and receive streaming prices. All major foreign exchange crosses can be traded on spreads from three pips (for EUR/USD, EUR/CHF, EUR/GBP, USD/JPY, for example). "All other crosses are also offered on low, competitive trading spreads with no additional charges, ticket fees or commissions," said Jakobsen.

The saxowebtrader requires no download or installation as it is a web-based platform and allows you to trade 50 + major forex currency crosses. Note that the minimum deposit is USD2,000.

MobileTrader is a built-in function of WebTrader, and is equipped with features including financial analysis, an advanced charting tool and dynamically calculated P/L, the spokesperson added.

While the new products allow only for FX trading, Saxo Bank plans to add support for "a certain suite of CFDs", according to Jakobsen.

"All account information transmitted through WebTrader is securely encrypted," he said. "And just like Saxo Bank's platform, SaxoTrader, WebTrader is open 24 hours a day."

Saxo Bank offers a variety of professional trading and settlement services to financial institutions, banks and brokerages through their highly flexible online trading technology, including decimal pricing for tighter price control; over 100 FX currency crosses, with deep liquidity supplied by more than 10 of the major liquidity providers in the world; Continuous Linked Settlement (CLS) services; direct trading on live tradable prices; 3 free news feeds; advanced charting and analysis; stocks on margin (CFDs) from 18 exchanges and index-tracking CFDs; and over 100 online futures contracts.