Saxo Bank, a Danish bank specialized in providing online trading services, said on Monday it has integrated Autichartist’s tools to its SaxoTraderGO mobile trading platform.
The forex bank has partnered with Cyprus-based Autochartist Ltd., the developer of the self-branded plugin, as a result of which it the users of its mobile platform can trade based on automated technical analysis and live trade signals across asset classes directly in SaxoTraderGO.
“The level of integration is unprecedented in the industry by fully integrating content into the entire trading experience of its client; from position open, to setting exit levels. Such deep consideration for the clients’ well-being is what makes Saxo a leader in the industry,” Autochartist CEO Ilan Azbel said.
The Autochartist feature on SaxoTraderGO will be rolled out to retail and white-label clients alike in all markets in the coming weeks and will be available in more than 20 different languages.
“With the deep integration of Autochartist we further enhance the analysis tools available to clients. There is no need to open other browsers, run applications or third-party setups,” said Kim Cramer Larsson, platform manager and technical analyst at Saxo Bank. “This new tool lets technology do the work automatically and enables clients to cover and analyze the market across asset classes with much greater efficiency. Autochartist provides the analysis and live signals enabling clients to make independent, well-informed decisions as trading opportunities occur,” he added.
Autochartist is a tool for automated identification of chart and Fibonacci patterns that automatically monitors the performance of financial instruments and, using performance statistics, finds trading opportunities and evaluates potential risks and the highest chances of success. The app also features volatility analysis and historical six-month performance statistics. The collected data is presented in a single comprehensible chart. Autochartist covers more than 50 currency pairs, 200 stocks, the biggest indices, as well as the major commodities and is free to all Saxo clients.
“Clients with experience in technical analysis can use the feature to cover more instruments and streamline time consuming market research. Whereas clients less familiar with technical analysis can leverage AutoChartist to further enhance their trading strategies by including the technical element in the decision-making process,” said Kim Cramer Larsson, Saxo Bank.
SaxoTraderGO is based on HTML 5 and is available for devices with Android and iOS operating systems, in addition to web devices. The platform 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 Open API.
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, CFDs, stocks, futures, and bonds. It also offers traditional banking services through its unit Saxo Privatbank. The group works with retail and institutional clients alike via 25 offices and has subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.