Saxo Bank today launched a new multi-asset trading platform for retail traders and investors across the Middle East – SaxoTraderGO.
The regional roll-out follows the launch of the platform to European customers last month, with Saxo clients in APAC and Latin America also due to receive access this month.
Built with a focus on functionality, SaxoTraderGO aims to support seamless user journey between Web, Android and iOS devices. The development of SaxoTraderGO sprung from the demand brought to light by a survey of nearly 3,000 Saxo clients globally who stated that maintaining platform performance and functionality when switching between different devices is a key priority for them.
The demand indicates a noticeable shift in the behaviour of retail traders who are now looking at the choice of platform not simply as a means for trading, but as something that makes a difference to their performance. Further findings of the survey also revealed Saxo’s Middle East clients prioritised a fast execution platform, as well as trust and reliability of the final product.
Christian Lund Hammer, Head of Platforms, Saxo Bank A/S, said, “Today 20 percent of our revenue from retail clients is generated via mobile and tablet devices and 75 percent 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. Retail investors can now seize trading opportunities and achieve the best execution regardless of where they are and what device they are using.”
SaxoTraderGO has been developed in HTML5 and features open APIs, which allow for developers to add additional security components – on top of the existing two-factor authentication options – to the platform.
The API ensures a unified client experience across devices and platform services such as content, trading and account services. Through the platform, Saxo clients can also see their account history, manage data subscriptions and view price alerts. Later this year, Saxo plans to make the same API available to other financial institutions and external developers.