LeapRate's Daily Forex Industry Newsletter
Join now to receive first access to our EXCLUSIVE reports and updates.
Screenshot of a breaking news alert e-mail from Q2 2017
Whether or not it affects Saxo-Tinkoff cyclist Peter Sagan’s incentive for victory, on Tuesday the Tour de Suisse, a famous and historic cycling road race, passes the Schwarzenbach Castle, owned by Saxo Bank’s co-founder Lars Seier Christensen, three times.
During the stage, Saxo Bank will launch its pioneering SaxoTraderGO, a new and intuitive, multi-asset trading platform to retail traders and investors in Switzerland.
The Swiss launch follows the successful launch of the innovative device-neutral platform to European customers last month with Saxo Bank-sponsored Lotus Formula 1 racing driver Romain Grosjean, and Saxo clients in APAC, Middle East and Latin America also due to receive access during June.
SaxoTraderGO was built from the ground up with a focus on usability and supports a seamless user journey between Web, Android and iOS devices.
The development of SaxoTraderGO was informed by a survey of nearly 3,000 Saxo clients globally who stated that maintaining platform performance and functionality when switching between different devices is a key priority for them.
This indicates a behavioral shift among retail traders who are looking at the choice of platform not simply as a means to trading, but as something that makes a difference to their performance. Speed and quality of execution were the two highest priorities for clients in terms of trading performance, followed by availability of trading instruments.
The survey revealed Saxo’s Swiss clients prioritised a fast execution platform, as well as a trusted and reliable company with good customer service and support.
“Today 20% of our revenue from retail clients is generated via mobile and tablet devices and 75% of all our trades and orders come from clients who use multiple devices to trade. In SaxoTraderGO, we have developed a platform that works the same on desktops, tablets and mobile phones and carries through changes to layout or settings across devices.
Retail investors can now seize trading opportunities and achieve the best execution regardless of where they are and what device they are using,” said Christian Lund Hammer, Head of Platforms, Saxo Bank A/S.
To be able to deliver an integrated user journey across multiple devices, SaxoTraderGO has been developed in HTML5 and built with a new open application program interface (API). Saxo Bank’s API enables rapid feature development and ensures a unified client experience across devices and platform services such as content, trading and account services.
In total, there are around 150 endpoints serving accounts, balances and positions over instruments and exchanges.
Saxo clients can also see their account history, manage data subscriptions and view price alerts. Later this year, Saxo Bank plans to make the same API available to other financial institutions and external developers.
“We know from our surveys that the focal point of everything we do is the platform. Our global clients are prioritising faster, better and more intuitive trading experience as high as content and analytics. Technological prowess is key to success and the high number of return visitors and returning trading clients indicates that SaxoTraderGO is a platform that clients are comfortable with and appreciate,” added Mr. Lund Hammer.
The client survey brought to light current trends in trader and investor priorities, with the choice of platform and the investment strategy deemed equally important for good performance.
The global survey also highlighted insightful regional nuances. Clients in China and South Africa were the most content-thirsty, with insights and analytics ranking as very high priorities. Clients in CEE are the most outward looking when it comes to trading, with clients in Poland, Russia and the Czech Republic placing access to markets and asset classes high in their list of priorities.
Photographs: Top Right – World famous racing cyclist Peter Sagan prepares for the Tour De Suisse; Center Left – Andrew Saks-McLeod with the innovative SaxoTraderGo platform at its inauguration in Paris; Lower Right – Lotus Formula 1 racing driver Romain Grosjean and Andrew Saks-McLeod compare the highly advanced technology of Formula 1 racing cars to the latest generation of FX trading platforms