Saxo Bank, a Danish bank specialized in providing online trading services, said on Wednesday more than 55% its revenue from private clients was generated from trades executed via its proprietary mobile trading platform SaxoTraderGO, which was launched a year ago. The mobile platform’s growth has exceeded the expectations, the bank said, without providing any specific figures.
SaxoTraderGO will be further enhanced with new features by the end of 2016. Saxo Bank revealed it plans to introduce to the mobile platform fully integrated technical analysis, new stock screener, option chain and the ability for White Label partners to upload own content.
Recently, Saxo Bank added equities market overview to SaxoTraderGO, incorporating a number of new modules (Indices, Gainers and Losers, News, Calendar Events, Overview Chart and Context Menu) and enhanced some existing features – the Watchlist, Positions and Orders Lists.
“One of the most interesting new services we offer on SaxoTraderGO is an automated investment and trading service called SaxoSelect. It allows clients to invest in various strategies that are automatically re-balanced by Saxo Bank while clients maintain full visibility and can see the individual holdings in SaxoTraderGO,” said Christian Hammer, head of platforms at Saxo Bank.
SaxoTraderGO is the mobile version of Saxo Bank’s proprietary online trading platforms SaxoTrader. It is based on HTML 5 and is available for devices with Android and iOS operating systems, in addition to web devices. SaxoTrader and SaxoTraderGO were launched in May 2015, and in November the same year the bank discontinued the other two trading platforms it operated at the time – the SaxoMobileTrader and SaxoTabletTrader.
SaxoTraderGO is used, through a white label partnership, by more than 100 financial institutions across the globe. It provides Saxo Bank’s partners with access to the bank’s multi-asset trading and back office infrastructure through its own OpenAPI.
Saxo Bank holds a banking license from Denmark’s Financial Supervisory Authority (FSA) and acts as a brokerage firm and a market maker, offering trading in more than 30,000 instruments, including forex, binary options, contracts for difference (CFDs), stocks, futures, and bonds. It works with retail and institutional clients alike.
The group operates 25 offices and has subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The Saxo Bank group also offers traditional banking services through its unit Saxo Privatbank.
Source: Saxo Bank