Follows the opening of an Australian office earlier this year.

Saxo Bank executives seem to be spending a lot of time south of the equator. The bank has announced the opening of a new Johannesburg office, after in late January announcing that they had set up an Australian subsidiary, received ASIC licensing and opened an office in Sydney.

South Africa has been somewhat quiet on the Forex front the past few years as other areas such as Australia and Asia have seen more activity. In September 2010 IG Group bought South African company Ideal CFD for £4.2 million.

For more on the global Forex market see the LeapRate-Dow Jones Forex Industry Report.