Saxo Bank goes for precision, set to introduce side-based P/L calculations for Forex

Multi-asset investment and trading expert Saxo Bank has been continuously improving its services.

Keeping an eye on precision, the company is planning to introduce side-based Profit/Loss (P/L) calculations for Forex positions. Profit/Loss on open Forex positions shown in the Positions lists will be calculated based on the actual Bid or Ask close price instead of the mid-price.

As a result:

  • The close price shown in the Positions list will display the price to close the position (Bid for long position, Ask for short positions);
  • P/L will be calculated using the Bid/Ask close price;
  • % Price will be calculated using the Bid/Ask close price.

This enhancement will provide traders with a more accurate representation of the P/L that will be booked on their account.

The change will affect all of the platforms the broker offers, with the new functionality set to be implemented from January 2016.

Talking of enhancements to Saxo Bank’s platforms, let’s note that Multi-screen Chart support in desktop browsers is coming to SaxoTraderGO. This means that the platform will allow the chart to be opened in a separate browser window and located on a separate screen.

In addition, the Chat module will be released in December on SaxoTraderGO on all devices including desktop, tablets and Smartphones, enabling traders to chat directly with their Account Manager at Saxo Bank.

Find out more about the novelties that Saxo Bank is introducing by clicking here.

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