Fintech firm Saxo Bank has launched its new professional trading platform, as it attempts to increase its market share around the world.
Saxo Trader Pro, which is aimed at sophisticated individual and institutional traders, will provide a more complex platform than the trading apps and sites used by retail investors but at a fraction of the cost of those traditionally favoured by the large financial institutions.
It allows clients to trade a number of financial instruments, ranging from stocks to futures to contracts for differences (CFDs), but Saxo has also taken the revamp as an opportunity to improve functionality and ensure it fully complies with regulation.
“Risk management is important to our clients so we have done a lot to enhance that, like the ability to set alerts if the market moves against you and adding an account shield to close your positions should your portfolio value go below a certain threshold,” said Saxo’s head of platforms Christian Hammer.
As the European markets watchdog last week moved to limit the services firms like Saxo can offer to retail clients, by banning or limiting the trading of certain instruments, the firm believes it can be a winner due to the emphasis it is already placing on sophisticated clients and institutions.