Saxo Bank, a Danish bank specialized in providing online trading services, said on Tuesday it has decided to discontinue SaxoWebTrader, the web-based version of its in-house trading platform, on 30 September, 2016.
The company has previously announced it intends to say good-buy to the web-based platform in the third quarter of the year, but it did not specify when at the time.
Due to the upcoming decommissioning of the web platform, the broker is urging users to transition to SaxoTraderGO, its mobile trading platform which has comparable functionality to SaxoWebTrader. The mobile platform was launched in May 2015 and within the first 12 months of operation, its turned more successful than expected. Saxo Bank has been consistently enhancing the mobile platform and promises to add more features to it in the near future.
Saxo Bank’s trading platform offering consists of SaxoTrader, its most popular one, and SaxoTraderGO, the mobile version of the SaxoTrader, and web-based SaxoWebTrader. SaxoTraderGO is available for web devices and such with Android and iOS operating systems. Shortly after its launch, the bank discontinued the other two mobile trading platforms it operated at the time – the SaxoMobileTrader and SaxoTabletTrader. SaxoWebTrader was also intended to be discontinued by the end of 2015, but it is still in use.
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