Saxo Bank, a Danish bank specialized in providing online trading services, said on it has introduced a number of new features to its in-house trading platforms SaxoTrader and SaxoTraderGO. In addition, the broker has made some improvements the trading conditions on select products.
SaxoTrader allows trade in all exchange-traded instruments
Investors who use SaxoTrader, the desktop platform developed by Saxo Bank, can now trade all exchange-traded instruments from the Trade Board in the Watchlist. Previously only instruments on green prices, such as forex and contracts for difference (CFDs) on indices were tradable through the Trade Board. In order to be able to trade from the Trade Board, users should be subscribed to live prices for the instrument from the exchange since instruments on delayed prices cannot be traded.
At the same time, the Trade Panel in the Watchlist has been removed due to low usage. Those who were used to the panel can still get the same functionality if they open a Trade Ticket in their view and link it to their Watchlist.
SaxoTraderGO gets new charts, studies
SaxoTraderGO is the mobile version of Saxo Bank’s proprietary trading platform. The broker has been consistently improving it since its launch in May 2015. Now, it has added to it new chart types and studies and has made some rather minor display alterations.
The platform now features a percentage comparative chart, which allows for the comparison of the relative performance of two instruments. It also has the following new studies added to it:
- (Chaikin) Accumulation Distribution Oscillator (ADO) – Detects directional changes in (Chaikin)Accumulation Distribution Line (ADL) by measuring the momentum of the movements – the first signal for a change of a trend. ADO generates a signal when the line crosses below or above the zero line.
- Williams Alligator – Uses three different Smoothed Simple Moving Averages (SSMAs) which slow the turn of the indicator and uses 5, 8 and 13 periods as default. Users can change the calculation method from SSMA to SMA (Simple Moving Average) or EMA (Exponential Moving Average) in the configuration dialog.
- Awesome Oscillator (AO) – Uses both volume and price to measure buying and selling pressure in an instrument. The output values ranges from 0 to 100.
- Spread – The study is used to compare instruments that are trading with a spread between them such as two equities in same industry sector, the A and B share for the same company, and two commodities futures.
- Ratio Indicator – It shows the current and the historic price ratio between two instruments. Ratio is similar to the spread but shows the price difference as a ratio between the two instruments (the first divided by the second).
Following is a list of the new display options added to SaxoTraderGO:
- Instrument symbol or description – A new option allows users to display instrument names as a symbol (ticker) or description.
- Price label – The last price indicates whether it is and uptick or downtick by red or green background colouring (or a blue) if no price activity for 3 seconds. The price for FX charts also emphasizes the pips in alignment with the rest of the platform.
- Fill colours for candlesticks and studies – We will add new colour options where you can define the line, border and fill colours for candlestick charts and studies such as Bollinger Banks. You can also configure hollow candlesticks by selecting no colour. Similarly, for studies such as Bollinger bands you will be able to define or remove the fill colour between the bands.
- Fibonacci adjustment to the right – The length of the lines on Fibonacci Annotations can now be adjusted left/right. Select the Fibonacci you want to adjust and grab the handle and drag the lines left or right. In the Settings for the annotation, you can adjust the end time and date or extend them infinitely.
- Vertical line extension – It is now possible to extend vertical line annotations through to sub-panels by clicking on the configuration icon and selecting Extend vertical line.
- Copy Annotations – You can now copy annotations by clicking the copy icon on the annotation.
- Individual snapping – Now you can also select or de-select snapping in each individual annotation in the specific annotation configuration settings.
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.
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.