SaxoTraderGO success prompts Saxo to close Cyprus MT4 offering
The entity, located in Cyprus, the hub of MT4 based brokers in the E.U., licensed and regulated by the Cyprus Securities and Exchange Commission, will stop on-boarding new clients with effect as from today.
Matteo Cassina, Global Head of Sales, Products and Platforms, Saxo Bank A/S, said,
“Today’s announcement is in line with Saxo Bank’s overarching strategy of focusing on the Bank’s core offering and our commitment to continuously improving our clients’ trading experience. With SaxoTraderGO, we have built and launched the world’s most intuitive and sophisticated multi-asset platform with a focus on usability. We believe this offering is superior and removes the need for clients to trade on an MT4 platform.
“SaxoTraderGO has already received outstanding reviews and our clients have fully embraced the platform. One week after the official launch of SaxoTraderGO, 35% of all Saxo’s unique trading platform users were trading on SaxoTraderGO. This early success has made our decision to close down the Cyprus based MT4 offering straightforward. Current clients of Saxo Capital Markets CY Ltd. will be offered the opportunity to continue their client relationship with Saxo Bank and they will be provided with access to the SaxoTraderGO platform.”
Neil Browning, Global Head of FX Sales, Saxo Bank A/S, added,
“Saxo Bank will continue to offer MT4 liquidity solutions to institutional clients and brokers, either via an MT4 client account linked directly to a Saxo account or via various bridge solutions. For instance, asset managers who make use of MT4 as an execution channel will continue to benefit from Saxo’s back office platform and multi asset account structures. Saxo Bank will also continue to focus on providing our liquidity and prime brokerage solutions to retail brokers and providers in the global MT4 market from our pricing and aggregation centres in NY4, LD4 and TY3.”
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment solutions, Saxo’s purpose is to Get Curious People Invested in the World. We are committed to enabling our clients to make more of their money. Saxo was founded in Copenhagen, Denmark in 1992 with a clear vision: to make the global financial markets accessible for more people. In 1998, Saxo launched one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, Saxo is an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable Fintech, Saxo is a fully licensed bank under the supervision of the Danish FSA, holding broker and banking licenses in multiple jurisdictions. As one of the earliest fintechs in the world, Saxo continues to invest heavily into our technology. Saxo’s clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, Saxo has more than 2,500 professionals in financial centres around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo